HomeMy WebLinkAbout2002 Financial Statement June 30� � �
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TABLE OF CONTENTS
INTRODUCTORY SECTION
P�gg
Letterof Transmittal ...................................................................................... I
Town of Marana Officials .............................................................................. IX
Town of Marana Organizational Chart .......................................................... X
GFOA Certificate of Achievement ................................................................ XI
FINANCIAL SECTION
Opinion of the Certified Public Accountant ...........................................
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'�Il�?1�
Combined Balance Sheet - All Fund Types and
AccountGroups ............................................................ 1
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - All Governmental Fund
Types............................................................................. 2
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual - All
Governmental Fund Types .......................................... 3
Combined Statement of Revenues, Expenses and
Changes in Equity - All Proprietary Fund Types.......... 4
Combined Statement of Cash Flows - All Proprietary
FundTypes .................................................................... 5
Notes to Combined Financial Statements ........................ -
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General Fund
Comparative Balance Sheets .........................................A-1
Statement of Revenues, Expenditures and Changes
in Unreserved Fund Balance - Budget and Actual......A-2
Special Revenue Funds
Combining Balance Sheet .............................................B-1
Combining Staxement of Revenues, Expenditures and
Chanaes in Fund Balances ..........................................B-2
1999 Community Development Block Grant - Statement
of Revenues, Expenditures and Changes in Fund
Balance - Budget and Actual ......................................B-3
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Special Revenue Funds (Continued)
2000 Community Development Block Grant - Statement
of Revenues, Expenditures and Changes in Fund
Balance - Budget and Actual ......................................B-4
HOME Program - Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual..........B-5
COPS Grant - Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual ..........B-6
RICO - Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual..........B-7
GITEM - Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual ..........B-8
HIDTA - Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual ..........B-9
MANTIS - Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual..........B-10
Auto Theft - Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual..........B-11
Highway User Revenue - Statement of Revenues,
Expenditures and Changes in Fund Balance -
Budget Actual .......................................................B-12
LTAF - Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual..........B-13
LLEBG - Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual..........B-14
Debt Service Funds
Combining Balance Sheet ............................................
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances .........................................
2000 General Obligation - Statement of Revenues,
Expenditures and Changes in Fund Balance -
Budget and Actual ......................................................
1997 General Obligation - Statement of Revenues,
Expenditures and Changes in Fund Balance -
Budget and Actual ..................................
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G2
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C-4
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Capital Projects Funds
Combining Balance Sheet .............................................D-1
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances ..........................................D-2
2000 General Obligation - Statement
of Revenues, Expenditures and Changes in Fund
Balance - Budget and Actual ......................................D-3
1997 General Obligation - Statement
of Revenues, Expenditures and Changes in Fund
Balance - Budget and Actual ......................................D-4
Other Capital Project Funds - Statement
of Revenues, Expenditures and Changes in Fund
Balance - Budget and Actual ......................................D-5
Enterprise Funds
Combining Balance Sheet .............................................E-1
Combining Statement of Revenues, Expenditures and
Changes in Fund Equity ..............................................E-2
Combining Statement of Cash Flows ...........................E-3
Comparative Balance Sheets - Water Fund ..................E-4
Comparative Balance Sheets - Airport Authority.........E-5
Statement of Revenues, Expenses and Changes in Fund
Equity - Water Fund - Budget and Actual ..................E-6
Statement of Revenues, Expenses and Changes in Fund
Equity - Airport Authority - Budget and Actual .........E-7
General Fixed Assets Account Group
Comparative Schedule of General Fixed Assets by
Source.........................................................................F-1
Schedule of General Fi�:ed Assets - By Function
andActivity .................................................................F-2
Schedule of Changes in General Fixed Assets -
By Function and Activity ............................................F-3
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TABLE OF CONTENTS
STATISTICAL SECTION (Unaudited)
Table P�
General Government Expenditures by Function -
Last Ten Fiscal Years ...........................................................I
General Revenues by Source - Last Ten Fiscal Years ...........II
Assessed and Estimated Value of Taxable Property -
Last Ten Fiscal Years ...........................................................III
Property Tax Rates - Direct and Overlapping Governments -
(Per $100 of Assessed Value) - Last Ten Fiscal Years ........IV
Computa.tion of Legal Debt Margin General Obligation
Bonds .............. .....................................................................V
Computation of Direct and Estimated Overlapping Bonded
Debt ................ ..................................................................... VI
Lease Revenue Bond Coverage - Last Ten Fiscal Years .......VII
Demographics ................ ..............................................VIII
Property Value and Construction -
Last Ten Fiscal Years ...........................................................IX
Top Ten Sales Taxpayers - Selected Industrial Groups.........X
Miscellaneous Statistical Data ...............................................XI
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TOWN OF MARANA
December 31, 2002
The Honorable Mayor and Council
Town of �Iarana, Arizona
The Comprehensive Annual Financial Report (CAFR) of the Town of Marana for the year eaded June 30,
2002 is hereby submitted.
The Government Finance Officers Association of the United States and Canada (GFOA) most recendy
awarded a Certificate of Achievement for Excellence in Financial Reporting to the Town of Marana for its
comprehensive annual financial report for the fiscal year ended June 30, 2001. The Certificate of
Achievement is a prestigious national award reco�izing conformance with the hiQhest standards for
preparation of state and local government financial reports.
To be awarded a Certificate of Achievement, a govemment must publish an easily readable and efficiently
or�anized comprehensive annual financial report , whose contents conform to pro�am standards. The CAFR
must sarisfy both generally accepted accountine principles and applicable legal requirements.
A Certificate of Achievement is valid for a period oi one year only. The Town of �Iarana has received a
Certificate of Achievement for the last six consecutive fiscal years, FY 1996-2001. We believe our current
report conrinues to confonn to the Certificate of Achievement proD am requiremenu, and we are submitting it
to the GFOA.
The CAFR has been prepared under the direction of Mr. Roy Cuaron, Finance Director, in coordination with
the Town's consultant, Mr. Ron Kovar, CPA and the Town's auditors, Clifton Gunderson LLC.
Responsibility for the accuracy of the data, and the completeness and fairness of the presentation including
all disclosures, rests with the Town. To the best of our Irnowledge and belief, the data contained in the CAFR
is accurate in all material respects, and is reported in a manner designed to present fairly the financial position
and results of operations of the various funds and account groups of the Town. All disclosures necessary to
enable the reader to gain an understandinQ of the Town's financial activities have been included.
The CAFR is presented in three sections: Introductory, Financial and Statistical. The Introductorv Section
includes this transmittal letter, a listing of principal Town officials and staff and the Town's organizational
chart. The Financial section includes the auditor's opinion on the financial statements and schedules, the
general purpose financial statements, footnotes, and required supplemental information and the combining
statements and schedules by fund and account aroup, which provides additional detailed information. The
Statistical Section includes selected financial and demo�raphic information, generally presented on a multi-
year basis to demonstrate trends. -• �
THE REPORTLVG EtiTITY A.�� ITS SERVICES
Back?round
Located in northern Pima County, the Town of Marana is one of the fastest growins communities in rlrizona.
The 2000 U.S. Census listed Marana as the fast �rowin� city in Arizona with a population increase in excess
13251 NORTH LON ADAMS ROAD s MA�J�A. !.� 8�t53-472� i� TELEPHONE: (520j 682-3401 � r�: 682-265»
of 500%. The official ; esident population increased from 2,162 in 1990 to I�.��6 in 2000. linofficially, the
Town's current population is believed to be in excess of 15,000.
Straddlin� Interstate 10. vlarana is only 10 miles north of downto�n Tucson and 90 miles south of do���ntown
Phoenix. �Iarana's orioinal incorporation covered approximately ten square miies. Todav, the Town
boundaries encompass over one hundred square miles. "
In its infancy, the Town was primarily a rural, a� community. However. throu�h annexations and
planned � the Town is now home to several residential, commercial and industrial developments,
includinQ Continental Ranch, SunfIower, HeritaQe Highlands and ContinentaI Ranch Business Park.
Legislative authority for the Town of i�iarana is vested in a seven-member Mavor and Council. Voters of the
Town directly elect the Mayor. Council-members serve four-year staggered ter,ns.
The CounciI fixes the duties and compensation of Town officials and employees, and enacts ordinances
and resolutions relatina to Town services, taxes, appropriatin� and borrowing moneys, liceasina and
regulating businesses and trades and other municipal purposes. The Town Council appoints the Town
Manager who has full responsibility for executing Council polices and administerin� Town operations. Town
employees are hired under personnel rules approved by the CounciI. A staff of approximatelv 260 employees
is responsible for the functions and operations of the Town government. �
The combined financial statements of the Town include all ?overnmental activities, organizations and
functions for which the Town is financially accountable as defined by the Goverrunental Accounting
Standards Board. Based upon these criteria, the Town of Marana Municipal Property Corporation is included
in this report.
Services Provided
The Town provides a iange of services that include police, water, construction and maintenance of streets and
roads and other infrastructure, flood control, low-income housing, recreational activities and culiural events.
ECONONIIC CONDITION A1V� OUTLOOK
Current Condition
The Town of Mazana aga.in demonstrated growth and improvement in fiscal 02. At June 30, 2002, the
unreserved, general fund balance was $203M, an increase of 1.4% from the pre� fiscal year. The mere
growth in the equity position of the general fund is a testament to sound fiscal management particularly as
cities and towns, locally and nationally, struggle with budgetary woes in these di�cult economic times.
The Town's economic prosperity and fiscal improvement continue to be fueled bv a strong, albeit, slowinQ
local economy, prudent fiscal management and a management phitosophy that fosters economic development
opportunities.
� As expected, sales tax revenues continue to comprise a majority (61%) of general fund revenues. Retail trade
and the construction industry accounted for over $11.3M, or 74%, of total tax re�•enues. Retail trade and
construction �ew by 4% and 58%, respectively. The increase in construction tax revenues is largely
attributable to an increase in the tax rate from three to four percent. Mayor and Council adopted the rate
increase to provide a panial funding solution to the Town's transportation plan. The revenue gro�rth in
construction is also consistent with the inerease in single family residential (SFR) permits issued for the year.
SFR permits increased by 21 % from the previous year.
Modest revenue �rowth amon�st the top ten retailers accounts for the increase in retail trade.
Sound fiscal management practices are key to the continuing success of the To�r.. Commencing with the
budgetary process and continuin� with montht3y mana�ement reports that monitor and report budget
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variances, the fiscal proc:sses ensure that total spendin� remains within appro��ed bud�etar�� le�•els and «�ithin
acailable tinancial resources.
The �Iarana Town Council, throu�h the establishment of clear and concise polices on gro�� mana�ement,
assures that expansion of the Town boundaries occurs when an economic benefit accrues to the Town and its
residents. Further, a pro-business attitude and emphasis on responsive customer service foster an
environment that encouranes economic development. The combination of these n;•o factors has been
instrumental in the oro« and fiscal prosperity of the Town.
Future Economic Outlook
The economic outlook for the Town of Marana continues to be very positive. �larana is expected to have
very rapid commercial, industrial and residential growth in the next ten years due to the abundance of
developable land.
Residential growth continues to occur predominately in two distinct areas of the Town. Continental Ranch
while nearing build-out, is still home to several si2nificant developments, includinQ Continental Reserve,
Sunflower, Silverbell West and Silverbell Place.
Similarly, the Dove Mountain area continues to experience growth in HeritaQe Hishlands Quail Crossing,
Canyon Pass and Villages at Dove Mountain and Dove Creek.
Collectively, the two development areas are planned for over 10,000 homes.
With the adoption of the Northwest Marana Reb onal Plan and completion of bank protection along the Santa
Cruz River, sionificant residential activity is expected to occur in the northwest quadrant oi the township. In
fact, development activity has recently commenced on the Gladden Farms and Vanderbilt Fanns projects.
From the commercial perspective, several new business establishments commenced operations in FY 02,
including InTown Suites, Lazy K Resort, Jack in the Box and La Parrilla Suiza restaurant.
New commercial projects under construction at fiscal year end included WalMart Skate Country, Ina Car
Wash and Competition Hobbies.
Collectively, these new business entities will si�ificantly enhance the local emplovment and tax base of the
Town. Similarly, completion of the Fire Suppression/Security Fencing project at the Marana Northwest
Regional Airport is expected to yield substantial economic benefits to the Town.
While construction has yet to beein, the Hyatt Regency Resort Project is expected to have a huQe economic
impact on the community. Annual tax revenues of at least one million dollars are expected to accrue to the
Town from this project. Construction is expected to commence in 2003.
In summary, the economic outlook continues to be positive despite a slowing of the local economy,
particularly retail trade. The FY 03 budeet reflects modest recurrin; revenue ero�; and, therefore, spendin�
levels have been adjusted accordingly. In short, the Town is well positioned to absorb the afiects a slua4ish
economy.
MAJOR INITIATIVES �
Current Year Proiects
Fiscal 02 yielded several accomplishments that were consistent with the policy direction set forth by Mayor
and Council during the budQet process.
Amon; the notab]e achievements were the followin�:
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Construction of approximately �8.4vt in ; oad improt-ements to complete and commencz, respecti��e�}�, the
Cortaro and Sil��erbell Road projects; said imorovements will increase transportation capacity in the
affected areas;
Ecpenditures of approximately S92�K for ennancement to the Town's municipal water system, includin�
acquisition of water ri�hts that will enable the Town to serve its growing population; �
Expenditures of approximately � 1.4M for capital improvements to the Marana North���est ResionaI
Airport, primarily for the desien and construction of a fire protection/suppression system that should spur
economic development activities �c the area:
Commencement of construction activities for park and recreation amenities, includin� the ContinentaI
Ranch Nei�hborhood Park and the Santa Cruz River Park; FY 02 expenditures totaled approximate;v
S 1.6�1; .
Purchase of an inteorated digital dispatch and communications system for the police department,
includina automated vehicle locators and remote, in-vehicle report writing equipment (S�90K);
Acquisition of vehicles, equipment and macninery totaling approximately � 1.3i�1; all e�penditures are
designed to enhance the Town's motor fleet and replace a�ing equipment;
Future Year Proiects
The Town is committed to improving and increasing service Ievels to its residents and planning for the proper
and orderly growth of the community. To that end, the following activiries have commenced or are in the
planning staQes for the very near future:
:• On-going design and construction of a municipal complex that will provide for the consolidation of
services and facilities to better serve the public;
: On-going design and consttuction of roadway improvements to increase traffic capacity; $7.4M
programmed in FY 03 for such improvemenu; �
�' Implementarion of the recently adopted Nonhwest Marana Regional Plan in anticipation of expected
deveIopment in the northwest quadrant of the township;
= On-goin� design and construction of infrasu improvements to the Marana Northwest Regional
Airport to facilitate economic deveIopment in the area;
=' Master planning, design and construction of Parks and Recreation amenities, to include 40 miles of multi-
use trails system, including 21 miles of the Juan Batista Historic De Anza Trail, and a 48 acre disa ict park
that will feature a public library and a muIti-sports complex;
FIl�iAi�'CL4L I�i FORVIATION
Management of the Town is responsible for estabIishina and maintaining an internal control structure
designed to ensure that the assets of the Town are protected from loss, theft, or misuse and to ensure that
adequate accounting data is compiled to allow for the preparation of financial statements in conformity with
generally accepted accounting principles. The internal control structure is designed to provide reasonable, but
not absolute, assurance that these objectives are met. The concept of reasonable assurance r�cognizes that:
(1) the cost of control should not exceed the benefits likely to be derived; and (2) the valuation of costs and
benefits requires estimates and judgments by mar,aoement.
All interna] control evaluations occur within the above framework. We believe the Town's internal
accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of
financial transactions.
The policy of the Town of 1�Iarana provides that the Town Council shal] adopt the annual budget prepared by
the Town Manager and senior staff. This budeet is re��ewed by the Town Council and is formally adopted by
the passage of a budget resoIution. The Town ManaQer is authorized to transfer bud�eted amounts bet�•een
departments �-ithin any fund; however, any revisions that alter the tota] expenditures of any fund must be
approved by the Town Council.
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Revznue and expenditure reports that compare bud;et versus actual results are produced monthly and are
distrouted to senior stafi and others upon request.
Gener3l Fund
The Gzneral Fund is used to account for expenditures of traditional eovemmental services as well as financial
resources other than those required to be accounted for in other funds.
Gene-al Fund revenues totaled �2�,138,756 in fiscal 02, an increase of 3�.26% from FY O1. General Fund
inc; esses (decreases) o��er the last year are shown in follo�ving tabulation:
Revenue Source
Taxes
Other Agencies
Licenses, Fees & Pe.�mits
Fines, Forfeitures & Penalties
Interest Income
Other
Increase/
(Decrease)
from 2001
2,644,268
1,375,192
2,950,826.
{6,083)
(644,186}
232,693
Amount
15,258,119
2,971,917
5,379,899
353,361
661,948
513,512
Percent
of Total
60.70%
11.82%
21.40%
1.41%
2.63%
2.04%
Total 25,138,756 100.00%
6,552,710
20.96%
86.13%
121.48%
-1.69%
-49.32%
82.86%
35.26%
The increase in tax revenues is largely at�butable to an increase in the sales tax rate from three to four
percent for cons� activity. The rate increase is intended to fund a portion of the Town's master
transportation plan and accounted for 46% of the revenue increase. Discountin� the impact of the rate
increase, industry revenues grew by 19%, or S600K. Retail sales �ew by nearly S300K, a five percent
increase over FY O 1.
Other a�ency revenue �ew primarily because of an increase in the per capita distribution from the State of
Arizona.
Income from licenses, fees and permits increased substantially due to the imposition of impact fees for
recreational amenities (parks) and transportarion infrastructure. Collectively, these fees generated nearly
�2.OM in fiscal 02.
The decrease in interest income.may be linked directIy to a sluggish national economy.
The increase in Other Revenues is the result of a development agreement that pro�-ides annual income of
�450K to offset a lease obli�ation of a similar amount.
General Fund expenditures for general government purposes totaled S 17,030,7� 1 in fiscal 02, an increase of
30.>j% from FY O 1. Inerease (decrease) in levels of expenditures for major functions of the To��n over the
preceding year are sho�zn in the foIlowinQ tabulation:
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Percent
Increase/
(Decrease)
from 2001
Function
Generai Government
Development Services
Town Attorney
Police
Magistrate Court
Public Works
Parks and Recreation
Debt Service/Capital Lease
Amount
3,473,934
4, 518, 724
370,720
3,699,901
386,080
2,986,788
1,398,607
1 9 5,997
Percent
of Total
20.40%
26.53%
2.18%
21.72%
2.27%
17.54%
8.21 %
1.15
Tota l 17, 030, 751 100.00°/a
Increase/
(Decrease)
fro �_
1,001,546
1,875,898
8,614
497,739
81,998
115, 307
415, 884
(11,674)
3,985,312
Percent
Increase/
(Decrease)
from 2001
40.51 %
70.98%
2.38°0
15.54%
26.97%
4.02°'0
42.32°/a
-5.62%
30.55%
The dramatic increase in General Government expenditures is due to the lease obligation (�450K) mentioned
previously combined with increases in personnel costs for new positions and health care benefits for all
employees.
The increase in Development Services expenditures may be traced to the Fleet Asset ManaQement division of
the deparnnent. Capital vehicle and equipments purchases increased by nearly � 1.3M over FY Ol .
The general fund increase for Police, Magistrate Court and Parks & Recreation stems from increased
personnel costs associated with nineteen new positions authorized for the respective departments. The new
positions reflect the Council's commitment to public safety, customer service and expansion of recreational
programs to all residents of the Town.
Despite the overall increase in expenditures, the Town's general fund balance increased by nearly 1.4%, again
indicating sound fiscal management practices.
Capital Proiects Fund
Proceeds of the Series 1997 and 2000 Revenue Bonds are accounted for in the Capital Projects funds until
improvement projects are completed. During FY 02
majority dedicated to roadway improvement projects. Capital ProjecPfund ba�ances hand at y a end
represent primarily cash and ca s h i n v e s t m e n t s.
1 ' r op rietarv/Enterprise Water Fund
The Town's enterprise funds, consisting of the «•ater and airport fund, showed a net income, collectively, of
approximately $$$p, primarily due to non-operatina re�•enues of �1.1M.
FINA� CI_�i, >I_��:�GEI�IENT
Debt Administration
At June 30, 2002, Marana Municipal Propem Corporation had two revenue bond issues outstanding. The
Series 1997 bonds were issued in October 1997 and the Series 2000 were issued in February 2000. At June
30, 2002, the outstanding bond indebtedness for the Series 1997 bonds totaled $6,630,000, while the total
bond indebtedness for the Series 2000 bonds „•as S8,^�0,000.
The proceeds of the 1997 Series Bond issue «�ere (are) used to finance capital improvement projects, namely
desien and construction of major roadways and «•ater s�•stem improvements. The Series 2000 bond proceeds
are being used to design and construct a new municipal complex.
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Throu�n the vears, the To��n has entered into numerous capitwl lease a�reements allo«�in� the To�t;� [o
acquire asse;; without a major immediate impact on fund balances. The To�« will continue to carefuliv
e� the options a�•ailable when acquiring assets, and �i�ill choose the ootion whicn provides the most
., lonQ-ter.n benefit to the Town.
Cash �IanaQement
The Town o; �Iarana uses a system of consotidated cash mana;ement where cash from all funds are pooled.
Cash to �e used for the payment of current expenditures is kept in a mone� market sa�•in�s account. Excess
and idle cash is kept on deposit with the State of Arizona Treasurer's Local Governme:�t In�•estment Pool
(LGIP). Cash in the LGIP is available upon 24 hour notice and eams a retum comparabie to li.S. ao�-ernment
securities. Interest eamed on cash and investments from all funds totaled S9�9,457 in FY 0?, net of oank
analysis fees and investment expenses.
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Risk l�IanaQement
The Tow�n of Marana participates in the Arizona Municipal Risk Retention Pool. linder the Tot��n's Qeneral
insurance liability, the Town is required to pay the first �10. 000 per loss per claim or jud�ement, with the
Pool coverin� the balance up to �2,000,000. The Town also maintains excess umbrella coverase of
53 The Town's total general liabiIity insurance is thus 55,000,000. y
The Arizona Municipal Workers' Compensation Pool was the Town's insurance carrier for worker's
compensation durin� FY 02.
Various risk con�ol techniques, including employee accident prevention training, are utilized to control the
Town's risk exposure.
OTHER Ir�OR�•IATION
Indenendent Audit
The State of Arizona requires a bi-annual audit of the books of account financial records and transactions of
all departments of the Town by independent auditors. The Town has elected to have its audit conducted on an
annual basis. The firm of Clifton Gunderson LLP has been retained to perform the June 30, 2002 audit. The
auditor's report is included in the Financial Section of the repon.
Acknowledaments
The preparation of the CAFR was made possible by dedication of Mr. Ron Kovar, CPA, Clifton Gunderson
LLP, and the entire staff of the Town's Finance department. Mr. Kovar is the Town's consultant and Clifton
Gunderson LLP are the Town's auditors. Our sincerest appreciation is extended to all indi��iduals involved in
the preparation of the CAFR.
We also extend our appreciation to the Mayor and Council for their interest and suppor in planning and
conductina the financial operation of the To�m in a responsible and pro�ressive manner.
Respectfully submitted.
� � r e'��� C�
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Michael C. Hein
Town Manaoer
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Roy Cuaron
Finance Director
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VII
11�iARANA
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TOWN OF MARANA
TOWN CDUNCIL
Bobby Sutton, Jr., Mayor
Herbert Kai, Vice Mayor
Jim Blake
Patti Comerford
Tim Escobedo
Eddie Honea
Carol McGorray
SENIOR STAFF
Michael C. Hein \ Town Manager
Michael Reuwsaat \ Assistant Town Manager
Roy Cuaron \ Fnance Director
Jim DeGrood \ Development Services Administrator
Brad DeSpain \ Utifities Director
.locelyn Entz \ Town Clerk
Dick Gear \ Community & Economic Development Director
Daniel J. Hochuli \ Town Attorney
Jack Holden \ Building Official
Jane Howell \ Human Resources Director
Farhad Moghimi \Town Engineer/Public Works Director
Joel Shapiro \ Planning & Zoning Directoc..
Dave Smith \ Police Chief
Kevin Sweeney \ Technical Services Director
Ron Smith \ Parks & Recreation Director
Joseph Teta \ Court Administrator
James West \ Magisirate
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TO��`� OF �4:�f�aNA
Departmental Or�anization
I ?:'U f i 0?�
Ai:i�•or ,S Council
ToH•n Attorncv
Dan Hochuli
Ma�istratc Jim V1'cst
To�rn A(ana�er
�9ichael Hein
Assistant To��•n �•lanager
i�tichael Reuwsaat
Development Services Director
James DeGrood
Finance Director
Roy Cuaron
Utilities Director
Brad DeSpain
Town Clerk
Jocel}•n Entz
Building Services Director
Jack Holden
Public ��'or(:s Director
Farhad Mochimi
Technical Ser��ices Director
}ie�•in S�veene��
Community & Economic Dev. Director
Dick Gear
Human Resources Director
Jane Howell
Court Administrator
Joe Teta
Par1:s fi Recreation Director
Ron Smith
Planning Services Director
Joel Shapiro
Police Chief
David Smith
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Certif icate of
� Achievement
for Excellence
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Totivn of Marana,
Arizona
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 2001
A Certificate or Acnievement ior Fxcellence in Financial
R�porting is presented by the Government Finance Officers
Association oi the Uniied States and Canada to
government uniis and public employes retirement
svstems whose comprehensive annual financial
repors (CAFRs) achieve the highest
sandarCS in government accounting
and financial reporting•
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r..xecutive Director
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Certified Pubfic Accountants & Consultants
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Independent Auditor's Report
Honorable Mayor and Town Council
Town of Marana �
Marana, Arizona
We have audited the accompanying general-purpose financial statements of the Town of Marana,
Arizona as of and for the year ended June 30, 2002. These general-purpose financial statements
are the responsibility of the Town's management. Our responsibility is to express an opinion on
these general-purpose financial statements based on our audit.
We conducted our audit in accordance with auditin� standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examinin„ on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by management,
as well as evaluating the overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinions.
In our opinion, the general-purpose financial statements referred to above present fairly, in all
material respects, the financial position of the Town of Marana, Arizona as of June 30, 2002, and
'_. the results of its operations and cash flows of its pr�prietary fund types for the year then ended, in
conformity with auditing standards generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued a report dated
December 6, 2002 on our consideration of the Town's internal control over financial reportinQ
and our tests of its compliance with certain provisions of laws, regulations, contracts, and grants.
That report is an inte�ral part of an audit performed in accordance with Government Audiring
Standards and should be read in conjunction with this report in considering the results of our
audit.
�
'
'
Our audit was performed for the purpose of formin� an opinion on the general-purpose financial
statements taken as a whole. The combining and individual fund and account group financial
statements and schedules listed in the table of contents are presented for purposes of additional
analysis and are not a required part of the �eneral-purpose financial statements. Such
information has been subjected to the auditing procedures applied in the audit of the general-
purpose financial statements and, in our opinion, is fairly stated, in all material respects, in
relation to the general-purpose financial statements taken as a whole.
The information included in the introductory and statistical sections is presented for purposes of
additional analysis and is not a required part of the general-purpose financial statements of the
Town of Marana, Arizona. Such additional information has not been subjected to the auditin�
procedures applied in our audit of the general-purpose financial statements and, accordin�ly, we
express no opinion on such information.
LL�
Tucson, Arizona
December 6, 2002
n:ii�c+ in 13 n:itr> :�nd «'asnin<•ton. DC
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TOWN OF MARANA, ARIZONA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES - EXHIBIT 2
Year Ended June 30, 2002
Special Debt Capital
Genera� Revenue Service Projects
'
Totais '
(Memorandum Only)
2002 2001
REVENUES
Taxes $15,258,119 $ - $ - $ - $15, 258,119 $12, 613.851
Otheragencies 2,971,917 1,669,986 - 7,094,807 11,736,710 5,264,506
Licenses, fees and p�mits 5,379,899 - - - 5,379,899 2,537,428
Fines, forfeitures and
penalties 353,361 8,713 - 362,074 359,444
Interest 661,948 647 740 296,152 959,487 2,021,145
Other 513,512 54,456 - 345,220 913,188 381.10�
Total revenues 25,138.756 1,733,802 740 7,736,179 34,609,477 23,177,479
OTHER FINANCIAL SOURCES
Lease purchase proceeds 591,300 - - - 591,300
Transfers from other funds - 226,496 2,033,879 6,419,370 8,679,745 4,495.949
Total other financial sources 591,300 226,496 2.033,879 6,419,370 9,271,045 4,495,949
Total revenues and other financial sources 25,730,Ob6 1,960,298 2,034,619 14,155,549 43,880,522 27.673,428
EXPENDITURES
Current operations
General government 3,473,934 46,730 - - 3,520,664 2,502,g1g
Development and planning services 4,518,724 - - 4,518,724 2,642,g26
Town attorney 370,720 - -
Police - 370,720 362,106
3.699,901 370,410 - - 4,070,311 3,721,889
Magistrate court 386,080 - - - 386,080 304,082
Publicworks 2,986,788 - - - 2,986 2,871,481
Parks andrecreation 1,398,607 - - - 1,398,607 982,723
Community development - 305,75p - 305,750 404,839
Debt service -
Principal retirement 190,527 - 1,250,000 1,440,527 1,390,288
Interest 5,470 - 804,323 - 806,793 813,932
Fscal agent fees/bond issuance costs - - 3,500 - 3,500 3,�pp
Capital improvement projects - - - 14,100,119 14,100,119 7,612,744
Total expenditures 17,030,751 722,890 2,054,823 14,100,119 33,908,583 23,613,328
OTHER FINANCIAL USES
Transfers to other funds 7,368,752 1.202,583 - 108,410 8,679,745 4,495,g4g
Total other financial uses 7,368,752 1,202,583 - 108,410 8,679,745 4,495,949
Total expenditures and other financial uses 24,399,503 1,925,473 2,054,823 14,208,529 42,588,328 28,109,277
Excess {deficiency) of revenues and
other financial sources over (under)
expenditures and other financial uses 1,330,�53 34,82� (20,204) (52,980) 1,292,194 (43�,849)
FUND BALANCES, BEGINNING 20,145.804 12�,184 1,033,179 8,849,725 30,153,892 31.569,21�
Residuai eauitytransfers out (1,028,389) - - (816,595) (1,844,984) (g7g,q74
)
FUND BALANCES, ENDING �20,447,968 5 160,009 $1,012,975 $ 7,980,150 �29,601,102 S30,153,892
See notes to combined financial statements.
- 3
COMBINEO STATEMENT OF REVENUESAEXPENDITURES AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL -
ALL GOVERNMENTAL FUND TYPES - EXHIBIT 3
Year Ended June 30, 2002
REVENUES
Taxes
Other agencies
Licenses, fees and permits
Fines, forfeitures and
penalties
Interest
Miscelianeous
Totalrevenues
OTHER FINANCIAL SOURCES
Bond proceeds
Lease purchase proceeds
Transfers from otherfunds
Total other financial sources
Totai revenues and other financial sources
EXPENDITURES
General
Actual Budget (a) Varianc
$15,258,119 $14,465,000 $ 793,119
2,971.917 2.947,040 24,877
5,379,899 2,276,950 3,102,949
353,361 405,000 (51,639)
661,948 1,483,500 (821, 552)
513,512 505,000 g,5� 2
25,138,756 22,082,490 3,056,266
591,30� - 591,300
591,300 - 591,300
25,730,056 22,082,490 3,647,566
Current operations
General government 3,473,934 3,646,661 (�72,727�
Development and planning services 4,518,724 3,808,377 710,347
Town attorney
Police 370,720 357.000 13,720
Magistrate court 3 3,973,231 (273,330)
Public works 386,080 439,925 (53,845)
Parks and recreation 2 1,330,795 1,655,993
1,398,607 1,347,228 51,379
Community development _
Debt service - -
Principal retirement 190,527 253,800 (63,273)
Interest 5,470
Fiscal agent fees/bond issuance costs - 5,470
Capital improvement projects _ -
Total expenditures 17,030,751 15,157,017 1,873,734
OTHER FINANCIAL USES
Transfers to other funds 7,368,752 6,925,473 443,279
Total expenditures and other financial uses 24,399,503 22,082,490 2,317,013
Excess (deficiency) of revenues and
other financial sources over (under)
expenditures and other financiai uses 1,330,553 -
1,330,553
FUND BALANCES, BEGINNING 2014$ 8 � _
20,145,804
Residual equity transfers out
FUND BALANCES, ENDING
(�,o2s,sss� - �i,o2a,sss)
S 20,447 968 5 - S 20.447,968
Special Revenue
Actual Bud et a Variance
$ - $ - $ -
1,636,943 2,109,085 (q72, � q2�
�� - 647
54,456 - 54,456
1,692,046 2,109,085 417,039)
226,496 1.235,268 1,008,772
226.496 1.235,268 (1.008,772)
1,918.542 3,344,353 1,425,811
4&,730 = 46,730
370,410 418,900 (48,490)
- 2,435,453 (2,435,453)
275,482 490,000 (214,518)
692,622 3,344,353 (2,651,731)
1,202,583 - 1,202,583
�� 3,344,353 1,449,148
23,337 - 23,337 ,
O°.2�2 - 99,252
$ 122.�89 � - � 122,589
(a) The Town's budget included an additionai 572�,000 for revenues and $8�3,gq5 for expenditures for water enterprise and airport
authority activities that are not inciuded in this statement because these activities are proprietary in nature.
,
_ 5 ,
Debt Service Capital Project
Actual Budget {a) Variance Actual Budget (a) Variance
$ — $ — $ — $ — $ — $ —
— — — 7,094,807 11,957,465 (4,862,658)
740 — 740 296.152 — 296,152
— — — 345,220 — 345,220
�� — 740 7,736,179 11,957,465 (4,221,286)
— — — — 15,000,000 (15,000,000)
2,033,879 2,041,130 (7,251) 6,419,370 4,755,498 1,663,872
2.033.879 2.041.130 (7.251) 6,419,370 19,755,498 (13,336.128)
2,034,619 2,041,130 (6,511) 14,155,549 31,712,963 (17,557,414)
1.250.000
801,323
3,500
2,054,823
1,2�v0,000
785,523
5,607
2,d41,130
15,800
(2.10�
13,693
14,100,119 40,939,125 (26,839,006)
14,100,119 40,939,125 (26,839,006)
' — — 108,410 1,235,268 (1,126,858)
2,Ob4,823 2,041,130 13,693 14.208,529 42,174,393 (27.965,864)
��� — (2�,2�4) (52,980) (10,461,430) 10,408,450
1,033,179 — 1,033,179 8.849.725 10,461,430 (1,611,70�)
— — — (816, 595) — (816, 595)
$ 1,012,975 � — $ 1.012,975 $ 7,980 150 $ — $ 7,980.1 b0
See notes to combined financial statements.
6
TOWN OF MARANA, ARIZONA
COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN
FUND EQUITY — ALL PROPRIETARY FUND TYPES — EXHIBIT 4
Year Ended June 30, 2002
OPERATING REVENUES
Current use charges
Other
Total operating revenues
OPERATING EXPENSES
Materiai, supplies, and
other expenses
Depreciation expense
Total operating
expenses
Loss from operations
NONOPERATING REVENUES
Other agencies
Total nonoperating revenues
NET INCOME (LOSS)
DEFICIT, BEGINtaING
DEFICIT, ENDING
CONTRIBUTED CAP(TAL, BEGINNING
Residual equity transfers in
CONTRIBUTED CAPITAL, ENDING
FUND EQUITY, ENDING
Proprietary Totals
Fund Types (Memorandum Only)
Enterprise 2002 2001
$ 877,567 $ 877,567 $ 676,955
97,428 97,428 79,373
974,995 974,995 756,328
1,012,697 1,012,697 923,922
212,295 212,295 205,144
1,224,992 1, 224,992 1,129, 066
(249,997) (249,997) (372,738)
1,130,301 1,130,301 —
1,130,301 1,130,301 —
880,304 880,304 (372,738)
(1,240,202) (1,240,202) (867,464)
(359,898) (359,898) (1,240,202)
5, 030,189
1, 844, 984
6, 875,173
� 6,515,275
5,030,189 4,050,715
1,844,984 979,474
6,875,173 5,030,189
$ 6,515,275 $ 3,789,987
See notes to combined financial statements.
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118
Exhibit D-9
PIMA COUNTY
ASSESSED, LIMITED AND FULL CASH (SECONDARY) VALUE OF TAXABLE PROPERTY
Last Ten Fiscal Years
( in thousands)
Fiscal Year
1996-97 Primary
1996-97 Secondary
1997-98 Pritn�ry
1997-98 Secondary
1998-99 Primary
1998-99 Secondary
1999-00 Primary
]999-00 Secondary
2000-01 Prunary
2000-01 Secondary
2001-02 Primary
2001-02 Secondary
2002-03 Primary
2002-03 Secondary
2003-04 Primary
2003-04 Secondary
2004-OS Primary
2004-OS Secondary
2005-OS Prunary
2005-06 Secondary
Net Assessed
Va1ue
3,208,291
3,247,512
3,468,269
3,700,218
3,682,397
3,852,574
3,853,630
4,000,624
4,111,664
4,236,070
4,361,493
4,491,395
4,669,336
4,835,561
5,022,474
5,221,271
5,412,550
5,620,156
5,849,549
6,050,950
Limited and
Full Cash
Values (1)
30,042,'703
30,433,265
32,144,456
34,305,592
33,930,287
35,297,284
32,801,718
33,893,530
34,898,941
35,819,691
37,257,92 I
38,1J6,337
39,908,791
41,109,997
42,927
44,423,165
46,754,009
48,474,537
50,631,267
52,335,111
Ratio of Net
Assessed to
Full Cash Value
10.68%
10.67%
10.79%
10.79%
10.85%
10.91%
11.75%
� �.80%n
11.78%
11.83%
11.71%
11.76%
11.70%
11.76%
11.70%
11.75%
11.58%
11.59%
11.55°�0
11.56%
(1) Limited value is the basis for primary taxes and annual changes therein are restricted by statute;
Full Cash Value or Secondary Value approximates market value.
119
E�chibit D-10
PIMA COUNTY
COMPARATIVE NET VALUATIONS AND TAX RATES
Per $100 Assessed Value
($ Amounts of Valuation expressed in thousands)
FY 2005-06 (Taa� Year 2005) FY 2006-07 (Ta�c Year 2006)
7urisdiction Valuation Rate Valuation Rate
State of Arizona $ 5,849,549 $0.0000 $ 6,467,202 $0.0000
Pima Countv
General Fund - Primary 5,849,549 4.0720 6,467,202 3.8420
Debt Service - Secondary 6,050,950 0.7150 6,869,955 0.7150
Free Library - Secondary 6,050,950 0.2575 6,869 0.3675
Total County- Primary 5,849,549 4.0720 6,467,202 3.8420
Total County - Secondary 6,050,950 0.9725 6,869,9.5_5 1.0825
Grand Total
Education Assistance 5,849,549
F1ood Control District - Secondarv 5,323,433
Fire District Assistance - Secondarv 6,050,950
Pima Community Colle�e District
5.0445
0.4358
0.3746
0.0420
Primary 5,849,549 1.0930
Secondary 6,050,950 0.2184
Total 1.3114
Central Arizona Water Conservation District
Secondary 6,050,950
Ciues 8c Towns
City of 'Ilzcson
Primary 2,641,420
Secondary 2,722,916
Total
City of South Tucson
Primary 17,690
School Districts
Unorganized - Primary 7,574
Tucson Unified (District #1)
Primary 2,570,965
Secondary 2,650,489
Total
0.1200
0.3469
0.8895
1.2364
0.2383
1.8U90
6.4327
1.4502
7.8829
120
6,467,202
6,113,953
6,869,955
4.9245
0.0000
03746
0.0415
b,467,202 1.0570
6,869,955 0.1945
1.2515
6,869,955 0.1200
2,839,163 0.3411
3,016,231 0.8846
1.2257
19,000 0.2383
9,370 1.7394
2,782,666
2,951,009
5.9922
1.3935
7.3857
(continued)
Exhibit D-10
PIMA COUNTY
COMPARATIVE NET VALUATIONS AND TAX RATES
Per $100 Assessed Value
($ Amounts of Valuation expressed in thousands)
(continued)
FY 2005-06 (Tax Year 2005) FY 2006-07 (Tax Yeaz 2006)
Jurisdiction Valuation Rate Valuatian Rate
Mazana Unified (District #6)
Primary $ 482,599 $4.1055 $ 555,272 $3.8618
Secondary 501,025 1.9936 593,167 2.0499
Total 6.0991 5.9117
Flowing Wells Unified (District #8)
Primary 166,660 4.7645 176,501 4.5715
Secondary 171,730 2.3587 184,631 2.2962
Total 7.1232 6.8677
Amphitheater Unif'ied (District #10)
Primary 1,077,676 4.2235 1,176,348 4.1240
Secondary 1,115,617 2.2023 1,253,085 1.9)53
Total 6.4258 6.1193
Sunnyside Unified (District #12)
Primary 321,085 4.2287 345,217 5.6887
Secondary 333,316 4.4195 368,703 3.4642
Total &.6482 9.1529
Tanque Verde Unitied (District #13)
Primary 139,891 4.2549 155,295 4.0917
Secondary 145,123 1.5436 169,903 I.3889
Total 5.79R5 5.4806
Ajo Unified (District #15)
Primary 14,166 4.4994 14,851 4.4929
Secondary 15,149 0.0000 15,767 0.0000
Total 4.4994 4.4929
Catalina Fcx�thills UniYied (District #16)
Primary 461,269 4.3723 504,862 43099
Secondary 477,762 2.4b99 528,079 2.4329
Total 6.8422 6.7428
Vail Elementary (District #20)
Primary 254,909 4.6353 300,483 4.6184
Secondary 266,357 2.1157 324,978 2.0848
Total 6.7510 6.7032
(conlinued)
121
Exhibit D-10
PIMA COUNTY
COMPARATIVE NET VALUATIONS AND TAX RATES
Per $100 Assessed Va1ue
($ Amounts of Valuation expressed in thousands)
(continued)
FI' 2005-06 (Tvc Year 2005) FI' 2006-07 (T� Year 2006)
Jurisdiction Valuation Rate Valuat�on Rate
Sahuarita Unified (District #30)
Primary $ 115,452 $4.5611 $ 174,384 $4.2452
Seconclary 121,793 3.5884 183,014 3.4893
Total 81495 7.7345
San Fernando Elementary (District #35)
Primary
Secondary
Total
Empire Elementary (Disuict #37)
Primary
Secondary
Total
Continental Elementary (District #39)
Primary
Secondazy
Total
Indian Oasis Unitled (District #40)
Primary
Secondary
Tot�tl
Redington Elementary (District #44)
Primary
Secondary
Total
Altar Va11ey Elementary (District #51)*
Primary
Secondary
Total
808 3.7121
812 0.0000
3.7121
4,783 8.0930
5,089 0.0000
8.0930
204,154 1.8090
209,707 0.3442
2.1532
1,268 0.0000
1,268 0.0000
0.0000
1,143 4.8856
1,146 0.0000
4.8856
25,146 5.2536
26,106 1.0071
6.2607
818 3.748,1
832 0.0000
3.7481
4,988 8.4864
5,489 0.0000
8.4864
236,964 1.7394
249,038 0.3288
2.0682
1,182 0.0000
1,183 0.0000
0.0000
1,219 4.8853
1,339 0.0000
4.8853
26,781 4.7765
28,088 0.9931
5.7696
*Formerly known as the Mary E. Dill School District
122
E�ibit D-11
Fiscal
Year
1996-97
1997-98
1998-99
1999-00
Z000-01
2001-02
2002-03
2003-04
2004-OS
2005-06
PIMA COUNTY
HISTORICAL COLLECTIONS - HOTEL EXCISE TAX,
CAR RENTAL SURCHARGES
AND RECREATIONAL VEHICLE TAX
Last Ten Fiscal Years
(Amounts in thousands)
Car Recreational
Hotel Excise Rental Vehide
T� (t) Surcharges (2) Tax (3)
$ 1,794 $ 1,340
2,378 1,385 $ 182
2,438 1,396 217
2,625 1,477 213
2,824 1,557 199
2,495 1,377 190
2,536 1,436 195
2,717 1,277 209
2,R85 1,595 200
5,212 1,589 214
(1) Tax increased from 1% to 2% January 1, 1997; the addiUonal 1% can
only be used for County sports facilities.
In January of 2006, the tax increased from 2% to 6%, of which only 34%
can be used for sports facilities.
(2) Car rental surcharges increased from $2.50 to $3.50 per rental
contract July 1, 1996. Usage is restricted to County sports
facilities.
(3) Recreational vehicle t�vices apply at the rate of $0.50 per vehicle per
night and became effective July 1, 1997. Usage of this taY is
limited to Spring Training activifies.
Source: Pima County Finance and Risk Management Department
123
E�ibit D-12
PIMA COUNTY
STREETS AND HIGHWAYS REVENUES
Last Ten Fiscal Years
(Amounts in thousands)
Fiscal
Year
1996-97
1997-98
1998-99
1999-00
2000-01
2001-02
2002-03
2003-04
2004-OS
2005-06
Amount
30,412
33,370
39,535
47,699
48,317
47,071
48,072
51,334
53,878
56,937
Source: Pima County Finance and Risk Management Department
124
STATISTICAL SECTION
REVENUE CAPACITY:
The revenue capacity information is intended to assist users to understand and assess the factors affecting a
government's ability to generate its own-source revenues. The presentation here is not limited to property
tax revenues, but certain other revenues are presented to comply with debt disclosure requirements, e.g.,
hotel taxes, car rental and RV taxes and street and highway revenues.
EXHIBIT B
�ORTIZATION SCHEDULE �
!"'>'s' .ReferBnces In the sheded eree are lor Lender's use only and do not limit the appli
Any Hem ahove containing "'""' has been omitted du
7CrO1Ner: Town ot Marane Lender:
F'�._
of ihis documeni to any perticular loan or Item.
ThC S�OCkmB�'9 6811k
M8/8na OtfiCe
11853 W. Marana Rtl.
P.O. Box 247
Marana, AZ 85653
','��"sDiabursemenl Dpte: February i3, 2006 Repayment ScheAule: Installmeni
':.%j;.i:�' Interest Re1e: 4.100 Calculalion Method: 365/360 U.S. Rute
- ��t;:
: Paymenl Paymenl Paymenl Interest Pdncipa� Remaining
Numh�r Date Amount Paid Paid Balance
._.._. _....----- _.--.—_-...----- — _'"=---_=---�— --
� 06-01-2Q06 11,173.72 2,465.49 8,708.23 191,737.88
2 09-01-2Q06 11,173J2 2,008.99 9,164.73 182,573.15
3 12-01-2006 11,173.72 1,892.17 9,281.55 773,291.60
200BTJTALS: � 33,521.16 ----�-�--� � 6,966.65 ..,.- �27,154.51 `-- -
4. 03-01-2007 It,f73.72 1,77624 9,397.a8 163,894J2
. 5 06-01-2007 11,173J2 1,77725 9,456.47 154,437.65
B 09-01-2007 11,173.72 i,6tS.1B 9,555.56 144,882.D9
7 12--01�-2007 11,173J2 1.501.5a 9.672.18 135.209.91
� — ------- - -- _.—... .. _ ...------.. _. ......----- -- -- —
�� 2007 TOTALS: 44,694,g8 6,613.19 . �.. 38,081.88
��... �� 8 03-0I-2008 I1.173J2 t,401.30 s,772.d2 125,437.49
9 06-01-2008 11,17372 t,314.3� 9,B59.A1 115,578.08
10 09-Oi-20�6 t I,173.72 1,211.00 9.962J2 105,615.36
11 12-UI-2008 t1,i73.72 i 10,079.13 95,53623
----- ------- - ----.... .....-----..—__. _
200e TOTALS: 44,694.BB 5,021.20 39,673.68
12 03-01-2pOS 11,173.�2 979.25 10,194.47 85,34t.76
13 06--01-2009 �t,173.7? 894.19 iD,279.53 75,06223
14 09--01-2009 t1,173.72 7B6.49 10,387.23 64,675.00
15 _� 72-01_2009 11,173J2 67D28 70,503.M14 54,171.5fi �
2009 TOTALS: 44,694.88 � 3,33021 -. ...-- 41,384.87 '----- � .
16 03-0t-20t0 11,�73.78 555.26 10,618.4fi 43,553.10
1 � 06-07-2ptU 11,173.72 456.34 10,717.38 32,835J2
18 09-07-207p 11,173.72 344.05 10,829.57 22,006.05
19 12-0I-20t0 11,17372 228.07 10,9d5.65 11,060.40
�.� � —._.. .._..-- - --
� 2010 TOTALS: 44,694.88 1,58372 43,111.16 �
20 03-01-2011 it,173.72 113.32 11,060.40 0.00
201/70TA1.5: 11,173.72 .._. 113.32 -�-�---- 11,06�.40
� r - — --- --- — ---.. . �
T::.TOTALS: 223,474.40 23,02824 200,448.11 �
F i : NOTICE: This is an eslimated loan amortization sc Actu amounls may very if payments are inade on diffareni da�es or In different emounls.
.. Lh6EPPR0 — -- "--... —. . .
.�;:3;? : .
�z�.- ...
� �• �:�.� ��..s .
Coi�.MarYnJllnan5iel5eluiln�n.e�� �oqi.2.On. ��f.o���P�.�..�J .rE C:1:ilYlIH�G�RLFL�AM011TfC 1P-15�N GF_��seuM
7
'
'
'
�
TOWN OF MARANA, ARIZONA
COMBINED STATEMENT OF CASH FLOWS
ALL PROPRIETARY FUND TYPES — EXHIBIT 5
Year Ended June 30, 2002
Proprietary Totals
Fund Types (Memorandum Only)
Enterprise 2002 2001
CASH FLOWS FROM OPERATING ACTIVITIES
, Loss from operations
Adjustments to reconcile loss from operations to net
cash used in operating activities:
' Depreciation
Changes in operating assets and liabilities:
,
'
S
,
�
$ (249,997)
212,295
(Increase) decrease in accounts receivable (19,057)
Increase (decrease) in accounts payable
and accrued expenses 6,383
Net cash used in operating activities (50,376)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
(Increase) decrease in due from other funds (214,425)
Increase (decrease) in due to other funds 80,364
Net cash provided by (used in)
noncapital financing activities (134,061)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Increase in accounts receivable
Increase in due from other funds
Increase in accounts payable and accrued expenses
Increase in due to other funds
Recognition of nonoperating �revenues
Residual equity transfers from capital project funds
Residual equity transfers from general fund
Principal paid on note payable
Purchase of fixed assets
Net cash provided by capital
and related financing activities
NET INCREASE IN CASH
CASH, BEGINNING OF YEAR
CASH, END OF YEAR
(614,734)
(724,463)
1,133,874
205,324
1,130, 301
816, 594
1,028,390
(8,800)
(2,782,049)
184,437
$ —
$ (249,997) $ (372,738)
212,295 205,144
(19,057) 5,476
6,383 (166,942)
(50,376) (329,060)
(214,425) 98,616
80,364 (26,964)
(134,061) 71,652
(614,734} —
(724,463) —
1,133,874 —
205,324 —
1,130,301 —
816,594 979,474
1,028,390 —
(8,800) (8,800)
{2,782,049) (713,266)
184,437 257,408
5 — � —
See notes to combined financial statements.
8
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
A. General tatement
The Town of Marana (the Town) was incorporated on March 21, 1977, under the
provisions of the Constitution of Arizona and the Arizona Revised Statutes. The Town
operates under a council-mayor form of government. All funds and entities related to the
Town that are controlled by the Mayor and Council are included in the annual financial
report. Control is determined on the basis of budget adoption, taxing authority, and the
ability to significantly influence operations and accountability for fiscal matters. The
Town provides a full range of services including general government, development and
planning, legal, public safety, public works, and parks and recreation services. The
accounting policies of the Town conform to generally accepted accounting principles
(GAAP) as applicable to governments. The Governmental Accounting Standards Board
(GASB) is the accepted standard-setting body for establishing accounting and fmancial
reporting principles. The more significant accounting policies of the Town are described
below.
B. �'inancial Renortin Fntitv
In accordance with Governmental Accounting Standards Board Statement 14, "The
Financial Reporting Entity", these financial statements present the Town and its only
component unit, the Town of Marana Municipal Properiy Corporation (MMPC). The
MMPC is blended with the Town in these financial statements because the MMPC was
established by the Town in order to fund the debt incurred to finance the purchase of the
Town hall, various capital projects, and fixed assets used by the water fund. In addition,
MMPC only provides services to the Town. MMpC also issues an annual fmancial
report, which is available through the Town of Marana's Finance Department.
C. $asis of Prec ntatinr�
The accounts of the Town are organized on the basis of funds and account groups, each of
which is considered a separate accounting entit��. The operations of each fund are
accounted for with a separate set of self-balancing accounts that comprise its assets,
liabilities, fund equity, revenues, and eapenditures. Government resources are allocated
to and accounted for in individual funds based upon the purposes for which they are to be
spent and the means by which spending activities are controlled. The various funds are
grouped, ui the financial statements in this report, into generic fund types and broad fund
categories as follows:
—� 9
..
�
�
'
,
,
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued):
C. Basis of Presentation (Continued)
C • - ��n - i . .�� •-
' General fund - This fund is the general operating fund of the Town. It is used to
account for all financial resources, except those required to be accounted for in another
fund.
'
Special revenue funds - These funds are used to account for the proceeds of specific
' revenue sources (other than proprietary functions or maj or capital proj ects) that are
legally restricted to expenditures for specified purposes.
'
,
Debt service fund - This fund is used to account for the accumulation of resources for
the payment of general long-term debt principal, interest and related costs.
, Capital project funds - These funds are used to account for the acquisition or
construction of capital facilities being financed from General Obligation Bond proceeds,
grants from other agencies, or transfers from other funds.
'
'
�
'
�_J
I' •. - _�. .-
T'hese funds account for operations that aze organized to be self-supporting through user
chazges. The funds included in this category are the water fund and the airport authority
(a new fund established in fiscal 1999 with actual operations beginning in fisca12000) as
noted below:
Enterprise funds - These funds are used to account for operations that are financed
and operated in a manner similar to private business enterprises. The intent of the
governing body is that the costs (expenses, including depreciation) of providing services
to the general public on a continuing basis be financed or recovered primarily through
user charQes.
' _— 10
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 1 -
(Continued):
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
C. Basis of Pre entation (Continued)
G •.� •.�
Account groups are used to establish accounting control and accountability for the
Town's general fixed assets and general long-term debt obligations. The two account
groups are not "funds". They are concerned only with the measurement of financial
position. They are not involved with measuxement of results of operations. The
following are the two account groups:
General fixed assets account group - This account group is established to account for
all fixed assets of the Town, other than those assets accounted for in the proprietary fund.
Capital outlays in funds other than the proprietary fund are recorded as expenditures of
those funds at the time of purchase and are subsequently recorded for control purposes in
the general fixed assets account group.
General long-term debt account group - This account group is established to account
for all the Town's long-term debt and governmental fiznd compensated absences that will
be financed from general governmental resources. Long-term liabilities of the proprietary
fund are accounted for in that fund.
1 .
�/ _.____-•_���:� • ��s, �s�s�iz�:l�1�Si1�l1i[1}�
Measurement focus refers to what is being measured; basis of accounting refers to when
revenues and expenditures are recognized in the accounts and reported in the financial
statements. Basis of accounting relates to the timing of the measurement made,
regardless of the measurement focus applied.
The Governmental Fund Types (General, Special revenue, Debt ser��ice, and Capital
project funds) use a current financial resources measurement focus and are accounted for
using the modified accrual basis of accounting. Under the modified accrual basis of
accounting, revenues are recognized when susceptible to accrual; i.e., ��hen they become
both measurable and available. "Measurable" means the amount of the �ansaction can be
determined and "available" means collectible within the current period or soon enouQh
thereafter to be used to pay liabilities of the current period, which for the Town is
considered to be 60 days after year end. Expenditures are recorded when the related fund
liability is incurred. Exceptions to this general rule include principal and interest on
general long-term debt which are recorded as fund liabilities when due, and accrued
vacation which is recorded when payable from current available financial resources.
_ — 11
TOWN OF MARA.NA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued):
D. MeasLrement FocLSBa is of AccoLnting (Continued)
The Town reports deferred revenue on its combined balance sheet. Deferred revenue
arises when a potential revenue does not meet both the "measurable" and "available"
criteria for recognition in the current period. Deferred revenue also arises when resources
are received by the government before it has legal claim to them, as when grant monies
are received prior to the incurrence of qualifying expenditures. In subsequent periods,
when both revenue recognition criteria are met, or when the government has a legal claim
to the resource, the liability for deferred revenue is removed from the combined balance
sheet and revenue is recognized.
Grant revenues are susceptible to accrual if they are earned as expenditures occur. Taxes
collected (which include state shared sales taxes, Town sales tax, and county shared auto
lieu taxes) and held by both the State of Arizona and Pima County, Arizona at year end
on behalf of the Town are also recognized as revenue. All other Governmental Fund
Type revenues are recognized when received.
,
The Proprietary Fund Types are accounted for on an economic resources measurement
' focus using the accrual basis of accounting. Revenues are recorded when earned,
including unbilled water services which are accrued. Expenses are recorded at the time
liabilities are incuned. The Town's Proprietary Funds apply all applicable Government
, Accounting Standards Board (GASB) Statements, as well as the following
pronouncements issued on or before November 30, 1989, unless those pronouncements
' conflict or contradict GASB pronouncements: Financial Accounting Standards Board
Statements and Interpretations, Accounting Principles Boaxd Opinions, and Accounting
Research Bulletins of the Committee on Accounting Procedure.
,
�
'
�
' -- 12
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued):
E. Bvdgetarv C'nntr�i
The voters of the State of Arizona, on June 3, 1980, approved an expenditure limitation
that is applicable to all local governments. This limitation, based on expenditures of the
1979-80 fiscal year, restricts the growth of expenditures based on a factor of increases in
population and inflation. Certain expenditures are held to be excludable. The limitation
is set by the State Economic Estimates Commission prior to April 1 of each year for the
following fiscal year. As allowed, the voters of the Town of Marana, on May 15, 2001,
approved an alternative expenditure limitation - home rule option to be applicable to the
Town• This alternative expenditure limitation is free from any ties to the state imposed
limita.tions and is in effect for four consecutive yeazs begimm�g with the fiscal year ended
June 30, 2002. T'his limitation proyides for the Town to allow the Mayor and Council to
adopt an annuai expenditure limitation each year with no expenditures held to be
excludable. Therefore, the annual expenditure limitation equals the adopted budget.
The Town establishes its fiscal year as the twelve-month period beginning July 1. The
departments submit to the Town manager a budget of estimated expenditures for the
ensuing fiscal year. The Town manager and each department head meet to discuss
mutually acceptable changes for the estimated expenditures for that department after
which the Town manager subsequently submits a budget of estimated expenditures and
revenues to the Town Council.
Upon receipt of the budget estimates, the Town Council will hold a public meeting to
obtain taYpayer comments. Concurrently, a copy of the budget estimates is published in a
local newspaper. The Town Council is prevented from legally enacting the budget
through passage of a resolution until 15 days have passed after the date of the public
meeting. Prior to July 1, the budget is legally enacted.
The Town manager is authorized to transfer budgeted amounts between any departments
or any funds; however, any revisions that reallocate budgeted amounts from the budget
line items labeled "contingency" must be approved by the Town Council.
Budgeted amounts are as originally adopted and all appropriations lapse at year end. All
budgets are adopted on a basis consistent with generally accepted accounting principles
except the enterprise funds, for which depreciation is not budgeted and the acquisition of
capital assets are budaeted as expenditures.
— 13
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 1 - SUMMARY OF SIGNIFTCANT ACCOUNTING POLICIES
(Continued):
E. Budget� Control (Continued)
The Combined Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual - All Governmental Fund Types presents a comparison of budgetary
data to actual results of operations for which annual operating budgets are legally
adopted.
A budgetary basis to GAAP basis reconciliation of the special revenue funds, of which
the 2001 Community Development Block Grant, CJEF Court Fund, and Fill The Gap -
Courts Funds were not budgeted, follows:
Budgetary Unbudgeted GAAP
Basis Fund Basis
Actual Acival Actual
Total revenues and other financial sources $1,918,542 $ 41,756 $1,960,298
Total expenditures and other fmancial uses 1 30,26g 1,925,473
Excess of revenues and other
fmancial sources over
expenditures and other financial uses
F. Encumbrances
� 23,337 14 $ 34,825
Encumbrance accounting, under which purchase orders, contracts, and other
commitments for the expenditure of monies are recorded in order to reserve that portion
of the applicable appropriation, is not employed as an eatension of formal budgetary
integration in the general fund and special revenue funds.
= 14
TOWN OF MARAl�'A, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued):
G. Reservations and D signation of Ftnd Balancec
In addition to the reservations of fund balance for prepaid expenditures mentioned below,
the Town has established other reservations of fund balance as follows:
Reserved for debt service represents amounts required to be maintained under the
provisions of various bond ordinances or amounts reserved for future debt service
requirements.
Reserved for restricted assets represents assets maintained by Pima County for custodial
purposes that are restricted for expenditures that will enhance the Town's ability to
conduct police investigations.
The designation for subsequent years' expenditures represents Capital Projects Fund
Balances specifically identified for capital improvements.
H. ilse of �.ctimate
The preparation of general purpose financial statements in conformity with generally
accepted accounting principles requires management to make estimates and assumptions.
This will effect the reported amounts of assets and liabilities, disclosure of contingent
assets and liabilities at the date of the financial statements, and the reported amounts of
revenues and expenditures during the reporting period. Actual results could differ from
these estimates.
I. Bond Iscuance C'oc�c
For the enterprise/water fund, bond issuance costs are capitalized in the period in which
the bonds are issued and aze amortized on a straiQht line basis over 20 years. For all other
funds, bond issuance costs aze recognized as expenditures in the period in which the
bonds are issued.
J. Cash an ac��i�t�ivalentc
For the purpose of the statement of cash flo��s, the Town considers all highly liquid
investments (including the funds' participation in the investment pool account, and
appropriate restricted assets) to be cash equivalents. Individual fund investments with a
maturity of 3 months or less when pu.rchased are considered as cash equivalents.
1�
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
�
�
NOTE 1 -
(Continued):
K. Investments
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
GASB Statement No. 31 provides that governmental entities may report all investments
at fair value or they may elect to report certain money market investments and
participating interest-earning investment contracts at amortized cost. The Town ha.s
elected to report all investments at fair value. Staxutes authorize the Town to invest
public monies in certificates of deposit, interest bearing savings accounts, and repurchase
agreements provided eligible depositories meet interest rate, capital structure, and
collateral requirements. Other authorized investments include obligations of the U.S.
Government and its agencies, of Arizona utility and municipal improvement districts, and
the Arizona State Treasurer's Local Government Investment Pool ("LGIP"). The LGIP is
overseen by the State of Arizona. The fair value of each share in the LGIP is $1.
� : r �
The trust indentures executed for all of the bond series issued require all cash and
investments for each bond series to be held on deposit by the trustee/fiscal agents. These
assets are restricted for payment of interest and trustee fees associated with the bond
issues, retirement of principa.l balances, and purchasing fixed assets for the water fund to
fmance various capital projects, and to construct a new facility for the Town's operations.
In addition, the State of Arizona required that assets obtained at the completion of
crim.inal proceedings by the Town's police department be given to Pima County for
custodial purposes. These assets aze restricted for expenditures that will enhance the
Town's ability to conduct police investigations.
M. Pre$aid xnenditures
Prepaid expenditures are for payments made by the Town in the current year for liabilit��
insurance coverages eatending into the subsequent year, and the reserve for prepaid items
has been recognized to signify that a portion of fund balance is not available for other
subsequent expenditures.
N. Interfund Receivable and ava,,, bles
During the course of operations, numerous transactions occur between individual funds
for goods provided or services rendered. These receivables and payables are classified as
"due from other funds" and "due to other funds" on the combined balance sheet.
-- 16
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 1 -
(Continued):
O. Invent__ oriec
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Town uses the purchase method of expending inventories. There were no significant
inventories on hand at June 30, 2002 in the general fund.
P. Fixed A. etc
C'1en�a1 Fixed A�SPtS A �ol�nt ro �r►
Fixed assets used in Governmentai Fund Type operations (general fixed assets), including
those purchased with Federal grant monies, are accounted for in the General Fixed Assets
Account Group, rather than in Governmental Funds. Public domain ("infrastructure")
general fixed assets, such as roads, bridges, curbs and gutters, streets and sidewalks,
drainage systems, and lighting systems, are not capitalized along with other general fixed
assets for reporting purposes. Donated fixed assets are valued at estimated fair value on
the date donated. All purchased fixed assets are valued at cost. The cost of normal
maintenance and repairs that do not add to the value of the asset or materially extend
asset lives are not capitalized. No depreciation has been provided on any of the
remaining assets.
Pronri rv Fund Tvng
Property, plant, and equipment owned by the enterprise funds are recorded at cost.
Repairs and maintenance are recorded as expenses; renewals and betterments are
capitalized.
Depreciation is provided over the estimated useful lives of such assets using the straight-
line method. These estimated useful lives aze as follows:
Pump stations, distribution systems,
equipment and improvements
Organization costs
Machinery, equipment, and assets under capital lease
Estimated
Useful Li��e� �Ye r�l
20
5-40
�
17
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
'
,
I'
NOTE 1 -
(Continued):
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
� :� •� �� ��
The amount capitalized under capital leases is the lesser of the present value of the
minimum lease payments or the fair value of the leased properties at the beginning of the
respective lease terms. When a governmental fund acquires a fixed asset through a
capital lease agreement, the acquisition is reflected as an expenditure and other financing
source, and simuitaneously the acquired asset and related liability are recorded in the
General Fixed Assets Account Group and in the General Long-Term Debt Account
Group. Capitalized leases of the proprietary fund are accounted for entirely within the
proprietary fund by capita.lizing the asset acquired and recording the lease obligation as a
liability.
.
��i�• �� � �
In the general long-term debt group of accounts, essentially the entire accumulated
liability for compensated absences is reflected, since the liability at June 30, 2002, will
most likely not be paid within the current accounting cycle. Rather, in fiscal 2003 the
Town will probably pay that year's accrual without utilizing amounts accrued from prior
years.
S. Fund Changes and Transactionc etween Fund
Transactions that would be treated as revenue, expenditures, or expenses if they involved
organizations external to the governmental unit are accounted for as revenue,
expenditures, or expenses in the funds involved. Transactions which constitute
reimbursements of a fund for expenditures or expenses initially made from that fund
which are properly applicable to another fund are recorded as expenditures or expenses in
the reimbursing fund and as reductions of the eapenditure or expense in the fund that is
reimbursed.
Nonrecurring or non-routine transfers of equin� between funds are treated as residual
equity transfers and are reported as additions to or deductions from the fund balance of
governmental funds. Residual equin� transfers to the proprietary fund are treated as
contributed capital.
= 18
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued):
T. Com�arative Data
Comparative total data for the prior year is presented in the financial statements in order
to provide an understanding of changes in the Town's financial position and operations.
However, presentation of prior yeaz totals by fund type have not been presented in the
statements, since their inclusion would make the statements unduly complex and difficult
to read.
Total columns on the combined financial statements are captioned "memorandum only"
to indicate that they are presented only to facilitate financial analysis. Data in these
columns do not present financial position, results of operations, or changes in cash flows
in conformity with generally accepted accounting principles. Neither is such data
comparable to a consolidation. Interfund eliminations have not been made in the
aggregation of this data.
U. Seized Pro�er�tv
The Town Police have in their custody certain assets seized in criminal proceedings.
Until formal procedures have been finalized, the ownership of this property is not
determinable. In addition, legal requirements dictate that such assets not be reflected on
the Town's financial records in an agency capacity until Town ownership has been
determined. Consequently, no such assets are recorded on these financial statements.
NOTE 2- DEPOSITS AND INVESTMENTS
A. it
Cash on the combined balance sheet cansist of amounts held in petty cash funds, change
funds, and bank demand accounts.
Cash held in uninsured and uncollateralized petty cash and change funds totaled $100 at
June 30. 2002.
At �rear end, the book value of the Town's bank demand accounts were $407,955 and the
banl; balances were $1,5�2,904. The difference of $1,144,949 represents deposits in
transit and outstanding checks at June 30, 2002. $100,000 of the total bank balance was
covered b�� federal depository insurance and the remaining balance of $1,044,949 of the
total bank balance was covered by collateral held by the Town's custodial banl: in the
To«�'s name.
— 19
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 2- DEPOSITS AND INVESTMENTS (Continued)
A. De�osits (Continued)
At year end, the Town owned a nonnegotiable certificate of deposit with an original
maturity of more than 3 months. This certificate of deposit has a bank balance of
$560,000 at June 30, 2002, which is the same as its fair value. This certificate of deposit
is covered by collateral held by the Town's custodial bank in the Town's name.
Restricted assets: cash is uncollateralized by the trustee holding these balances. At year
end, the book value of these balances, which was the same as the bank balances, totaled
$20,912.
: � �� •
The Town's investments as of June 30, 2002 are:
Fair
Value
State Treasurer's Local Government Investment Pool $29,438,606
Money Market Funds 1,�96,262
Total Investments $31,034,868
Amounts invested in the Sta.te Treasurer's Loca1 Government Investment Pool and Money
Market Funds are recorded at fair value. Government Pool investments and money
market fi�nds are not categorized, in accordance with GASB No. 3, because they are not
evidenced by securities that exist in physical or book entry form.
A reconciliation of E�ibit 1 to Note 2 is as follows:
Exhibit 1:
Cash/Pooled Investments
Investment
Restricted assets: Cash/Pooled Investments
Restricted assets: Cash/Investments
Total
Note 2:
Cash
Certificate of Deposit
Restricted assets: Cash
Investments
Total
$19,312,684
560,000
10,533,977
1,617,174
�32,023.83�
$ 408,0��
560,000
20,912
31,034
��Z
— 2�
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 3- FIXED ASSETS, NET OF ACCUMULATED DEPRECIATION
The following is a summary of the changes in general fixed assets for fisca12002:
Balance
July 1, 2001 Addition
Land
Buildings
Assets under capital lease
Machinery, equipment, and
other assets
Marana Park
Continental Neighborhood
Park
Leasehold improvements
$ 2,279,821 $ 146,604
2,609,147 356,423
- 536,385
3,939,342 1,494,508
1,111,614 283,049
Balance
I2�le�� ine 0, 002
$ (25,660) $ 2,400,765
(78,350) 2,887,220
- 536,385
(20,688) 5,413,162
- 1,394,663
- 518,892 - 518,892
464,1�7 - - 464,157
Total
1'1' 1: :• '� � ••: � ..
A summary of enterprise fund property, plant, and equipment at June 30, 2002 is as
follows:
Land
Water rights
Improvements, including wells and tanks
Machinery, equipment, and other assets
Construction in progress
Organization costs
Total
Less accumulated depreciation and amortization
Fixed assets, net
— 21
$ 221,810
433,696
4,214,281
140,103
2,099,618
54,7�7
�. .
: 1 1••
,. � �.
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 4 - INTERFiJND TRANSACTIONS
A. Amounts due to/from other funds at June 30, 2002, are as follows:
The amount due to the General Fund is due from:
Special Revenue:
2000 Community Development Block Grant
2001 Community Development Block Grant
GITEM
HIDTA
MANTIS
Auto Theft
Capita.l Projects:
2000 General Obligation
$ 9,973
30,000
8,662
50,511
6,987
12,610
3,057,682
Enterprise:
� Airport Authority
Total
�
'
G
285,688
$3,462,113
The amount due to Special Revenue Funds is as follows:
The amount due to HOME Program is due from the General Fund $ 131,875
The amount due to CJEF Court Fund is due from the General Fund 32,427
The amount due to Fill The Gap - Courts
is due from the General Fund 4,993
Total $ 169,295
The amount due to Capital Project Funds is as follows:
� The amount due to Other Capital Project Funds is due from
the General Fund
from Special Rever�ue:
1 2000 Community Development Block Grant
Highway User Revenue
Total
��
�
'
,
I�
The amount due to Enterprise Funds is as follows:
The amount due to the Water Fund is due from
the General Fund
the Special Revenue Fund HOME pro�am
the Capital Project Fund 1997 General Obligation
Total
��
�
�2,195,623
80,180
91,620
�2,367,423
� 1,036,107
1,171
79,432
�1,116,710
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 4 - INTERFiJND TRANSACTIONS (Continued)
B. Residual Equitv Transfers In/Out•
The amount transferred to the Enterprise Funds is as follows:
The amount transferred to the Water Fund was
the general fund
the Capital Project Funds1997 General Obligation
Total to water fund
The amount transferred to the Airport Authority was
transfened from the general fund
Total
NOTE 5 - CAPITAL LEASE
$ 862,725
_ 816,595
1,679,320
165.664
$1,844,984
The Town entered into a long-term capital lease during fiscal 2002 involving the
acquisition of equipment for General Town purposes; this commitment is expected to be
funded by the Town's General Fund. Under this lease, the Town is required to make
quarterly payments of $52,288, which includes an effective annual interest rate of 3.7%.
Below is a schedule by year of future minimum lease payments under the capital lease as
of June 30, 2002:
Fiscal Year
Ending June 30
2003
2004
200�
Total minimum lease payments
Less amount representing interest
Present value of net minimum lease payments
NOTE 6- LONG - TERM DEBT
General Long-
Term Debt
$ 209,151
209,151
156.863
575,165
30 683)
$ 544.482
During 1998, the Town's enterprise%�ater fund was advanced funds under a zero-interest
loan in the amount of $88,000 for the purchase of fixed assets for the water system,
collateralized by two storage tanks in the water system and requiring monthly payments
of $733 over a ten year term.
ZJ
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 6- LONG - TERM DEBT (Continued)
During 1998, a capital improvement project in the capital project funds was financed by a
taxpayer. Under this unsecured agreement, the Town agreed to repay the taxpayer the
total cost of $665,881 for this project under a zero-interest repayment plan based on
quarterly payments of 33% of the Town sales tax collected by the Town from local
businesses within the general vicinity of the improvements created by this project. Based
on payments made during fiscal 2002, it is estimated the remaining balance will be paid
in full during fiscal 2003.
The following is a schedule by yeazs of the debt service requirements for this note
, payable in the water fund and contract payable in the general long-term debt account
group as of June 30, 2002:
, Fiscal Year
Ending June 30.
2003
, 2004
2005
, 2006
2007
Thereafter
� Total
Less amount representing interest
Principal
i
Water General Long-
Fund Term Debt
$ 8,800 $ 41,062
8,800 -
8,800 -
8,800 -
8,800 -
8�800 -
52,800 41,062
-�=—) -�_)
$ 52,800 4 2
� The following is a surnmary of changes in general long-term debt activity for fisca12002:
'
�li
IJ
�
�J
Revenue Bonds (A)
Compensated absences (B)
Capital leases
Contract payable
Total
Balances Balances
at July l, June 30,
2001 Additions Reductions 2002
$16,330,000 $ - $(1,250,000) $15,080,000
285,122 50,381 - ;;�,�03
- 591,300 (46,818) 544,482
184,771 - (�43,709) 41,.062
�16,79�,893 $641,681 �1,440,�27) $16,001.047
' = 24
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 6- LONG - TERM DEBT (Continued)
A. Beven � Bonds
The 1997 Series Revenue Bonds are callable as follows:
Redemntion Dat
7-1-2008 and 1-1-2009
7-1-2009 and 1-1-2010
7-1-2010 and thereafter
The 2000 Series Revenue Bonds are not callable.
Redemption Price (As
a Percent of Princinal)
101.0%
100.5
100.0
Annual debt service requirements to maturity for these revenue bonds are as follows:
Fiscal Year 1997 Series 2000 Series
Ending n 0 ond Bond� Tota
2003 $ 791,454 $ 1,249,100 $ 2,040,554
2004 790,873 1,255,550 2,046,423
2005 799,105 1,236,313 2,035,418
2006 785,380 1,240,800 2,026,180
2007 795,325 1,241,950 2,037,27�
Thereafter �,���� 4, 18 1� 1 10.08.�,762
Total 9 10,541,844 20,269,612
Less amount representing interest � 3_Q97,�$) ( 2 p 1 44)
,__2_�S 1 5_1R9 �1��
Principal �� ;n nnn
�x $ 8_450 00� $15•Ogp ppp
B. �omnen ated Ahcencec
This consists of the long-term portion of accrued ��acation and compensatory time, with
an increase of $50,381 for fisca12002.
— 2J
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
'
'
'
NOTE 7- EMPLOYEE RETIREMENT SYSTEMS
: �i: ' . � 's :' 'n'� •�i
All of the Town's full-time police officers are covered by the Mazana Marshal's Arizona
Public Safety Personnel Retirement System, which is an agent /multiple-employer
administered by the fund manager of the Arizona Public Safety Personnel Retirement
System, defined benefit public employee retirement system (PERS). Authority to
establish and amend the benefit provisions of this pension plan is established by Arizona
State statute. The State of Arizona Public Safety Personnel Retirement System issues a
publicly available financial report that includes financial statements and required
supplemental information for the Marana Marshal's plan. This report may be obtained by
writing to the Arizona Public Safety Personnel Retirement System 1020 E. Missouri
Phoenix, Arizona 85014.
The pension plan provides pension benefits, deferred allowances, death and disability
benefits and limited health insurance benefits. A member is eligible if he is employed in
a covered position prior to attaining age 50 years, for at least 20 hours a week for more
than 6 months a year. A member may retire after reaching the age of 62 and completion
of 15 years service, or completion of 20 years service with the Town. Benefits vest after
10 years of credited service. Police officers who retire with 25 or more years of credited
service are entitled to monthly pension payments for the remainder of their lives equal to
50% of average monthly compensation for the first 20 years of credited service with the
Town, plus 2 1/2% of average monthly compensation for each year of credited service
above 20 years with the Town. Police officers who retire with 20 years of credited
service with the Town, plus 2% of average monthly compensation for each yeaz of
credited service between 20 and 25 years with the Town. Police o�cers ��ho retire with
less than 20 years of credited service with the Town are entitled to monthly pension
payments for the remainder of their lives equal to the average monthly compensation for
the entire service period reduced at a rate of 4% a year for each service yeaz below 20
years of service. The maximum monthly pension payment cannot exceed 80% of the
average monthly compensation.
Pension provisions include deferred allowances whereby a police officer may terminate
his emplo�rment with the Town after accumulating 10 or more years credited service.
Pension benefits are then equal to twice the amount of pension benefits based on the
police officer's accumulated contributions. If the police officer does not withdraw his
accumulated contributions, the police officer is entitled to these pension benefits upon
reaching the age of 62.
= 26
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 7- EMPLOYEE RETIREMENT SYSTEMS (Continued)
A. Arizona P�blic af t; Retirem nt �ystem (Continued)
Pension provisions include disability and death benefits. Disabled officers are entitled to
monthly payments for life of 50% of their average monthly compensation or normal
pension amount, whichever is greater, if their disability is service connected, regardless
of years of credited service. Average monthly compensation (AMC) is one-thirty-sixth of
total compensation paid a member during the 3 years, out of the last 10 years of credited
service, in which the amount paid was highest. If the police officer's disability was not
service connected, the disabled officer is entitled to monthly payments for life of 25%
of AMC, if the credited service is less than 7 years, 50% of ANIC, if the credited service
is 7 through 13 yeazs, or 75% of AMC, if the credited service is 14 through 19 years. If
the police officer is only temporarily disabled, he is entitled to monthly payments equal to
one-twelfth of 50% of compensation paid during the year preceding the date the disability
was incurred. The payments terminate after 12 months or prior recovery. Surviving
spouses aze entitled to 80% of the monthly payments, or 100% if duty related, the
deceased active police officer would have been paid for disability or, in the case of a
retired police officer, 80% of the retired officer's monthly pension payments. To qualify
as a surviving spouse, the spouse must have been married to the deceased for at least 2
years. The spouse's benefits terminate upon her death. Each dependent child of a
deceased police o�cer is entitled to one-ninth of the monthly payments the deceased
active police officer would have been paid for disability or, in the case of a retired police
o�cer, one-ninth of the retired o�cer's monthly pension payments. When the dependent
child reaches the age of 18 or 23, if the dependent is a full-time student, the monthly
payments ��ill terminate.
Pension provisions include health insurance benefits, whereby the retired police officer or
his sun�iving spouse can elect to be covered by a health insurance plan provided by the
Town or State of Arizona. The retired police officer or his surviving spouse pay for this
coverage. However, they cannot be charged more than $150 per month plus an amount
up to $110 per month for dependent coverage, if any.
O�cers c��ith at least 20 years of credited service may elect to enter the Deferred
Retirement Option Plan (DROP), for up to 60 months. During the DROP period, the
frozen accrued pension is credited to the officer's DROP account. The account is paid at
time of actuai retirement.
The To��n's current year payroll for eligible police officers amounted to approaimately
�2,478,000.
— 27
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 7- EMPLOYEE RETIREMENT SYSTEMS (Continued)
A. ArLOna Public Safety Retirement Sx,ctem (Continued)
Police officers of the Town are required to pay 7.65% of their gross earnings to the
pension plan. The Town makes periodic contributions to the pension plan at actuarially
determined rates that, expressed as percentages of annual covered payroll, are designed to
accumulate sufficient assets to pay benefits when due. The normal cost and actuarial
accrued liability are determined using an entry age actuarial funding method. Unfunded
actuarial accrued liabilities are being amortized as a level percent of payroll over an open
period of 20 years starting July 1, 2002. During 2002, the Town was required to
contribute 10.04% of its police officers' covered payroll to the plan.
' The contribution requirements of plan members are esta.blished and maybe amended by
Arizona State statute. The Arizona Public Safety Personnel Retirement System's funding
policy provides for actuarially determined employer contributions at rates which will
' provide assets sufficient to pay benefits when due. This funding policy/objective is stated
in the Arizona State statutes.
,
C
Total contributions made during fisca12002 were $434,539, of which $244,971 was made
by the Town and $189,568 was made by police officers. The pension contributions
represent funding for normal cost and the amortization of the unfunded actuarial accrued
liability.
' A variety of significant actuarial assumptions are used as of June 30, 2002, to determine
the standardized measure of the entry age actuarial accrued liability and these
assumptions are sumznarized below:
!J
'
�
I'
I'
�
• The present value of future pension payments is computed by using a discount rate of
9%. The discount rate is equal to the estimated long-term rate of return on current
and future investments of the pension plan.
• Future pension payments reflect an assumption of 5.�% (compounded annually)
salary increases as a result of inflation.
• Future pension payments reflect an assumption of additional projected salary
increases ranging from 1.0% to 4.0% per year, depending on age, attributable to
seniority/merit.
The actuarial value of the assets was deternuned usin� techniques that smooth the effects
of short-term volatility in the market value of investments.
= 28
TOWN OF MARANA, ARIZONA '
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002 ,
NOTE 7- EMPLOYEE RETIREMENT SYSTEMS (Continued) '
A. Ari�ona Ptbli ��fetv Retirement y sterr� (Continued)
'
The standardized measure of the unfunded actuarial accrued liability as of June 30, 2002
is as follows: '
Active members
Retired members and survivors $ 2,g97,519 i
Former members with vested benefits 789,598
--_,__.� '
Total actuarial accrued liability
Actuarial value of assets 3��5��2�9
5.4---_---._�— '
Unfunded actuarial accrued liability
��.���1,�Z$)
'
�teai.�ire-d � Tnf �.� ion
'
�LE OF FMPT nv�u rn�TT„Tr., j ON�
Fiscal � '
Year Ended Required Percent
, 0 Con_ trih� �ontrib�tPr� '
1996 $ �8,��$ 100.0%
1997 62 948 100.0% �
1998 �
1999 66,970 100.0%
100,783 100.0% ,
2000 106 655 100.0%
2001 211,911 0
2002 100.0 /o
244,971 100.0% '
'
'
'
�9 '
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 7- EMPLOYEE RETIREMENT SYSTEMS (Continued)
A. Arizona Public Safetv Retirement Sy.�tem (Continued)
Required Su�nlemental Information (Continued)
. 1 1 � ►/ ► ':� :
Valuation
Date
June 30
1497
1998
1999
2000
2001
2002
(6)
Unfunded
(2) AAL as a
(1) Entry Age (3) (4) (5) Percentage
Actuarial Actuarial Percent Unfunded Annual of Covered
Value of Accrued Funded AAL Covered Payroll
Assets Liabili AAL) (11/(21 121�111 Pavroll f41/f51
$ 1,956,059 $1,862,109 105.0% $ (93,950) $1,275,174 - %
2,527,484 2,188,698 115.5 (338,786) 1,398,167 -%
�,374,868 3,145,797 107.� (229,071) 1,737,509 - %
4,265,5�7 4,249,197 100.4 (16,340) 2,014,412 - %
5,140,522 3,179,638 161.7 (1,960,884) 2,225,156 - %
5,479,157 3,757,279 145.8 (1,721,878) 2,508,�48 - %
•�_� _� � �. ��_
'
'
I'
It
Fiscal
Year Ended
June 30,
1997
1998
1999
2000
2001
2002
Anrival
Pension
Cost ��
$ 62,948
66,970
100,783
106,665
211,911
244,971
Percent
Contributed
100.0%
100.0
100.0
100.0
100.0
100.0
Net Pension
' t' n
$0
0
0
0
0
0
No changes in actuarial assumptions or benefit provisions that would siQnificantly affect
the valuation of the unfunded actuarial accrued liabilities occurred during fisca12002.
During fisca12002 and as of June 30, 2002, the Marana Marshal's Arizona PERS held no
securities issued b�- the Town or other related parties.
30
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 7- EMPLOYEE RETIREMENT SYSTEMS (Continued)
: �. � � ►/= '�� ►' "��'� � :�
Effective July l, 1995, the Town established a Money Purchase Plan and Trust known as
the Town of Marana Retirement Plan (Plan) in the form of the International City
Management Association Retirement Corporation Prototype Money Purchase Plan and
Trust. The prototype plan is qualified under Section 401 of the Internal Revenue Code.
The Plan is a defined contribution plan that provides pension benefits for all full-time
employees and permanent part-time employees, except for commissioned police
personnel who aze covered under the Arizona Public Safety Personnel Retirement
System. In a defined contribution plan, benefits depend solely on amounts contributed to
the plan plus investment earnings. Employees are eligible to participate from the date of
employment. In fiscal 2002, the Plan was amended to require that the employee and t�ie
Town contribute an amount equal to 4% and 8%, respectively, of the employee's
biweekly earnings, which includes overtime and bonuses. The Town's contributions for
each employee (and interest allocated to the employee's account) are fully vested after
five years of continuous service.
Town contributions far, and interest forfeited by, employees who leave employment
before five years of service are used to reduce the Town's current-period contribution
requirement.
The Town's total payroll in fiscal year 2002 was approximately $7,463,000. The Town's
contributions were calculated using the earnings amount of approximately $5,344,000.
For fisca12002, the covered employees made the required 4% contribution, amounting to
$213,773, with the Town making a required smaller contribution due to the application of
forfeitures, amounting to $364,490 for a total of $578,262.
'� •��� � �. •� :•,•
The Town offers no postemployment benefits to employees other than the previously
discussed retirement plans.
NOTE 8 - RISK MANAGEMENT
The Town is exposed to various risks of loss related to torts; theft of, damage to and
destruction of assets; errors and omissions; and natural disasters. The Tov��n's insurance
protection is provided by the Arizona Municipal Risk Retention Pool, of which the Town
is a participating member. The limit for basis coverage is for $2,000,000 per occurrence
on a claims made purpose. Excess coverage is for an additional $13,000,000 per
occurrence on a follow form, claims made basis.
— 31
�
,
'
'
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 8 - RISK MANAGEMENT (Continued)
The Arizona Municipal Risk Retention Pool is structured such that member premiums are
� based on an actuarial review that will provide adequate reserves to allow the pool to meet
its expected financial obligations. The pool has the authority to assess its members
' additional premiums should reserves and annual premiums be insufficient to meet the
pool's obligations. For the fiscal yeazs ended June 30, 2002, 2001, and 2000 there were
no settlements through the pool for the Town that exceeded insurance coverage.
�
'
'
Workers' compensation insurance is placed through the Arizona Municipal Workers'
Compensation Fund.
NOTE 9- EXCESS OF EXPENDITURES OVER APPROPRIATIONS IN
INDIVIDUAL FUNDS AND DEFICIT FUND
BALANCES OF INDIVIDUAL FUNDS
For fiscal year 2002, expenditures exceeded authorized appropriations in the general fund
' by $1,873,734, the 2000 General Obligation (a debt service fund) by $19,300, and the
following individual special revenue funds:
1999 Community Development Block Grant $ 152
! GITEM 4,912
HIDTA 2,861
' MANTIS 9,862
LLEBG 6,3 80
The excess expenditures for the general fund, the 2000 General Obligation (a debt service
fund), and for all of these special revenue funds were covered by excise revenues, fund
balance, and grant revenues, respectively.
At June 30 2002, the water fund in the enterprise funds had a deficit fund balance of
$1,235,407. This deficit fund balance is covered by contributed capital and is primarily
the result of accumulated depreciation and amortiza.tion on fixed assets.
NOTE 10 - COMIVIITMENTS AND CONTINGENCIES
At June 30, 2002, the Town had entered into contracts with general contractors for six
capital improvement projects in Other Capital Projects Funds, a Capital Project Fund, and
two construction projects in the Airport Authority, an Enterprise Fund. These projects
involved the commitment of $14,423,092 with $8,729,600 recognized as expenditures
during June 30, 2002 and $347,087 capitalized as part of construction in progress in fiaed
assets in the enterprise funds, leaving a remaining commitment of $5,346,405 at June 30,
2002.
-- 32
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 10 - COMMITMENTS AND CONTINGENCIES (Continued)
The Town is continuously liable with respect to other claims incidental to the ordinary
course of its operations. At June 30, 2002, it is the opinion of Town management, based
on the advice of the Town Attorney and outside counsel, that any such claims would not
have a material effect on the Town's financial position.
The Town leases office space for its development and planning, police, and magistrate
court departments under noncancelable, long-term operating leases with expirations of
September 2003 through September 2004. Two of these leases requires the Town to pay
its shaze of real estate taxes, common area charges, and management fees. These same
leases require annual adjustments for increases in the Town's share of real estate t�es,
common area charges, and management fees. However, the increased related to
controllable common area charges and management fees by the landlord cannot increase
more than 4.5% over the prior year. One lease contains two five-year renewal options
and a second lease contains one three-year renewal option at a monthly base rent of
$3,715, plus an arinual adjustment of 3%. During fiscal 2002, the Town was assigned
and assumed a noncancelable long-term operating lease for 2,400 acres of land with the
State of Arizona with an expiration of October 2099. This lease had an initial annual
rent of $432,000 that requires 10% increases in the annual rent payments for each
succeeding five year period.
These leases provide for payments of minimum annual rentals as follows, excluding real
estate ta��es, common area charges, management fees, and sales taxes:
Years Ending
une 0
2003
2004
2005
2006
2007
Thereafter
Total
$ 621,409
508.262
439,171
432,000
47�.20.0
_ 118,436 71 �
$120, 1 �,7�4
Minimum annual rentals above excludes annual rental under the remaining rene«�al
options as of June 30, 2002. Rent expense under the above leases for fiscal 2002
aggregated $655,083.
_— ., .,
»
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'
�
TOWN OF MARA.NA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 11- WATER CONTRACTS
The Town has a contract with Cortaro Water Users to produce substantially all of its
' water. Under the contract, the Town pays Cortaro a rate based on water
production/usage. The rates charged are on a tiered-rate structure which provide a
' discount for larger volumes of water produced and are subject to annual adjustments.
Water production expense under this contract for the year ended June 30, 2002 was
$117,881 and is reflected in the Water Fund, an Enterprise Fund.
�
�
�
�J
�
�._�
The Town has a contract with the Central Arizona Project (CAP) to pay CAP the Town's
share of costs associated with the CAP making available recharge water to the Town.
Under this agreement, the Town is charged its share of costs regardless of whether the
Town has accessed recharge water from CAP. The rechazge expense under this contract
for the year ended June 30, 2002 was $46,065 and is reflected in the Water Fund, an
Enterprise Fund.
NOTE 12 - SEGMENT DISCLOSURE
The Town maintains two Enterprise Funds. The Water Fund provides water service to
the Town. The Airport Authority operates the Marana Airport.
Key financial information as of and for the yeaz ended June 30, 2002 for these funds are
as follows:
'
Operating revenues
' Operating expenses excluding depreciation
Depreciation
Loss from operations
' Nonoperating revenues
Net income (loss)
'
'
'
'
Residual equity transfers in
Fixed asset additions
Net working capital (liability)
Total assets
Total equity
Water
Fund
$ 888,511
847,994
20�,810
(16�,293)
� (165,29;)
, . • 1
�:. 1:
.. �..
, 1.• 1:
Airport
Authoritv
$ 86,484
164,703
6,485
(84,704)
1,130,301
�1,045,597
. ..�
• ••.
.: � .
.. • �
.
..• .
Total
$ 974,995
1,012,697
212,29�
(249,997)
1,130,301
$ 880,304
� 1,844,984
2 4
24 12
�8,141,769
�6,� 1 �,27�
' — 34
TOWN OF MARANA, ARIZONA
NOTES TO COMBINED FINANCIAL STATEMENTS
June 30, 2002
NOTE 13 - LEASING ARRANGEMENTS
In conjunction with the Town assuming a noncancelable long-term operating lease for
2,400 acres of land with the State of Arizona (see Note 10 - Commitments and
Contingencies for further details), a developer has signed a noncancelable agreement to
reimburse the Town the annual rental payment for a minimum of twenty years. This
noncancelable twenty year term begins after the first twelve consecutive months generate
more than $1,000,000 in resort sales tax to the Town from the development project
known as "Dove Mountain". It is unknown when this event will occur, resulting in the
start of the twenty year term. T'he Airport Authority, an Enterprise Fund, leases part of
the airport to local Marana businesses under noncancelable operating leases requiring
fixed and contingent rentals based on aviation fuel dispensed on the premises. The
following is a schedule of future minimum rentals receivable under these leases at June
30, 2002, not including any year beyond the minimum of twenty years in the lease for the
general fund and not including renewal options for the leases for the Airport Authority:
Fiscal Yeaz
Fndin J,g une 30.�
2003
2004
2005
2006
2007
Thereafter
Total
General
Fund
$ 432,000
432,000
432,000
432,000
475,200
�,3���
$9,592,560
Airport
Au�
$ 69,041
85,770
87,291
90,820
84,220
1,707,938
$2,125,080
NOTE 14 - FUTURE CAANGE IN ACCOUNTING PRINCIPLES
In June 1999, the Govemmental Accounting Standards Board issued Statement No. 34,
"Basic Financial Statements - and Management's discussion and Analysis - for State and
Local Govemments." This statement establishes new financial reporting requirements for
a11 state and local govern.ments. It creates new information and restructures much of the
information that is currently presented in the financial statements. The Town of Marana
will adopt this new standard beginning with its 2003 fiscal year, the year in which
adoption is first required for the Town of Marana. Adjustments to governmental
proprietar}-, and fiduciar�- funds resulting from the change to comply with this Statement
will be treated as adjustments of prior periods, and financial statements presented for the
periods affected v��ill be restated unless restatement is not practical. The impact of
adopting this statement has not yet been determined.
These notes aze an integral part of the
accompanying combined financial statements.
— 35
'
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'
C O MB
ININ G
�
IND IV
ID UAL
F UND AN�D
A
�CQUNT
GRO UP
STATE
TIZENT S
1
I 1
I 1
[!
I 1
ST:�TE:��1E\TS .-�
GE�ER�L FL�D
The General r und accounts for all revenues and expenditures used to finance the
traditional s���ices associated with a municipal Qovenunent ��hich are not accounted ior
in other fu;►ds. In Marana, these services include Qeneral �overnment, deve]opment �.n�
plannin� sen�ices, to��n attorney, police, maQistrate court, public works, and parks and
recreation.
TOWN OF MARANA, ARIZONA
COMPARATIVE BALANCE SHEETS
GENERAL FUND — EXHIBIT A-1
June 30, 2002 and 2001
ASSETS
Cash/Pooled Investments
Investment
Receivables:
Ta�ces
Other
Prepaid expenditures
Due from other funds
TOTAL ASSETS
2002
$ 19,312,684
560,000
1,355,793
146,717
90,000
3, 462,113
$ 24,927,307
LIABILITIES AND FUND EQUI7Y
LIABILITIES
Accounts payable and accrued liabilities $ 798,842
Due to other funds 3,401,025
Deferred revenue 279,472
Total liabilities 4,479,339
FUND EGlUITY
Reserved for prepaid expenditures
Unreserved fund balances
Total fund equity
90, 000
20,357,96B
20,447,968
TOTAL LIABILITIES AND FUND EG1U17Y $ 24,927,307
2001
$ 17,593,554
508,502
1,021,245
148,881
70, 000
3,191,983
$ 22,534,165
$ 1,268,096
950, 887
169,378
2,388,361
70, 000
20,075,804
20,145 , 804
$ 22,534,165
36
STATEMENT OF REVENUE EXPE D�ITURES AN IN UNRESERVED
FUND BALANCE - BUDGET AND ACTUAL
GENERAL FUND - EXHIBIT A-2
Year Ended June 30, 2002
REVENUES
Taxes
Town sales tax
Town sales tax audits
Total taxes
Other agencies
Sales taxes - state
State revenue sharing
Auto lieu taxes - state
Total other agencies
Licenses, fees and permits
Building permits
Development fees
Im pact fees
Cable television franchise fees
Business licenses
Other
Total licenses, fees and permits
Fines, forteitures and penalties;
Town court fines
Interest
Miscellaneous
Other
Lease income
Total miscellaneous
Total revenues
OTHER FINANCIAL SOURCES
Lease purchase proceeds
Total other financial sources
Total revenues and other financial
sources
EXPENDITURES
General government
Other general government
Contractuai services
Special programs
Other
Debt service
Total other general government
Variance -
Favorable
Actual _Budget (Unfavorable)
$ 14,821,929 �' $14,465,000 $ 356,929
436,190 - 436,190
15,258,119 i4,465,00p 793,119
1,044,631 +�' 1,083,360 (38,729)
1,413,908 ,' 1,413,680 228
5 �8 �' 450,000 63,378
2�9_ 71_917 2,947,040 24,877
2,863,648'` 1,400,000 1,463,648
902,033 ✓ - 902,033
1,411,256✓ 730,500 680,756
67,992'� 66,450 1,542
29,875 ✓ 20, 000 9, 875
���.09$ 60,000 45,095
5�3_ 79 .__ 8 99 2,276,950 3,102,949
3_ 53,361'� 405,000 (51,639)
66�,948 1,483,500 (821,552)
63,234� 70,000 (6,766)
4 �8 43�,000 �5,2�8
��? 50�,0�� 8,512
25,�_ 38__�56 22,082,490 3,056,266
5 �� - 591, 300
591, 300
�_ 591,300
25,�_ 3�,��6 22,082,490 3,647,566
677,207 989,195 111,988
113,904 436,136 322,232
712,234 632,1b0 (80,084)
�- S= 2_ °3,8�� 57,803
�,$_ 99___342 2,311,281 411,939
37
TOWN OF MARANA, ARIZONA
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN UNRESERVED
FUND BALANCE - BUDGET AND ACTUAL
GENERAL FUND - EXHIBIT A-2 (Continued)
Year Ended June 30, 2002
Variance -
Favorable
Actual Budget (Unfavorable)
�
�J
'
EXPENDITURES (continued)
General government (continued)
Mayor and council
Contractual services
Commodities
Other
Total mayor and council
Human resources
Personal services
Contractual services
Commodities
Special programs
Other
Total human resources
Accounting and finance
Personal services
Contractual services
Commodities
Other
Capital outlay
Total accounting and finance
Town Clerk
Personal services
Contractual services
Commodities
Other
Total Town Clerk
Town Manager
Personal services
Contractual services
Commodities
Other
Contingsncy
Capital outlay
Total Town Manager
Total gensral government
$ 396 $ 700 $ 304
i,329 6,500 5,171
26,427 22,075 (4,352)
28,152 29, 275 1,123
128,692"'` 134,525 5,833
13,371 9,000 (4,371)
1,973 - (1,973)
- 27,500 27,50�
377,162 42,040 (335,122)
521,198 213,065 (308,133)
283,824�� 283,322 (502)
78,271 71,515 (6,756)
9,212 6,500 (2,712)
15,617 17,350 1,733
- 4, 000 4, 000
386,924 382,687 (4,237)
124,371 "� 123,110 (1,261)
6,823 30,000 23,177
7,334 10,000 2,666
37,535 39,865 2,330
176,063 202,975 26,912
438,411 �� 466,971 28,560
183,843 178,500 (5,343)
8,949 9,000 51
27,049 17,000 (10,049)
- 85,707 85,707
- 4, 000 4, 000
658,252 761,178 102,926
3, 669, 931 3, 900, 461 230, 530
I 38 _-
TOWN OF MARANA, ARIZONA
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN UNRESERVED
FUND BALANCE - BUDGET AND ACTUAL
GENERAL FUND - EXHIBIT A-2 (Continuedj
Year Ended June 30, 2002
EXPENDITURES (continued)
Development and planning services
Building services
Personal services
Contractual services
Commodities
Other
Total building services
Planning and zoning
Personal services
Contractual services
Commodities
Other
Capital outlay
Total planning and zoning
Development services administration
Personal services
Contractual services
Commodities
Other
Capital outlay
Total development services
administration
Total development and planning
services
Town attorney
Tax
Water
Prosecution
Annexation
General services
C�ndemnations and acquisitions
Total town attorney
Police
Personal services
Contractual services
Commodities
Other
Total police
Variance -
Favorable
Actual Budget (Unfavorable)
$ 612,676 `� $ 628,129 $ 15,453
2,784 14,50Q 11,716
12,178 7,730 (4,448)
25,107 42,965 17,858
652,745 693,324 40,579
323,961 '� 341,477 17,516
36,597 45,250 8,653
17,415 13,000 (4,41�
17,049 6,035 (11,014)
- 3, 000 3, 0��
395,022 408,762 13,740
459,021 � 427,521 (31,500)
190,655 145,145 (45,510)
773,534 187,000 (586,534)
16,853 29,625 � 2,772
2,030,894 1,917,000 (113,894)
3,470,957 2,706,291 (764,666)
4,518,724 3,808,377 (710,34'�
8,972 4,000 (4,972}
21,438 25,000 3,562
128,279 140,000 11,721
17,253 8,000 (9,2�3)
i �s,�o� � so,000 �� s,�o��
15,071 20,000 4,920
370,720 357,000 (13,720)
3,488,406 f 3,716,621 22g,2� �
77,101 76,564 (�3�
59,193 107,896 48,703
75,201 72.1b0 (3,051)
3, 699, 901 3, 973, 231 273, 330
39
TOWN OF MARANA, ARIZONA
STATEMENT OF REVENUES, EXPENDITUFiES AND CHANGES IN UNRESERVED
FUND BALANCE — BUDGET AND ACTUAL
GENERAL FUND — EXHIBIT A-2 (Continued)
Year Ended June 30, 2002
EXPENDITURES (continued}
Magistrate court
Personal services
Contractual senrices
Commodities
Other
Capital outlay
Total magistrate court
Public works
Personal services
Contractual services
Commodities
Other
Capital outlay
Total public works
Parks and recreation
Personal services
Contractual services
Commodities
Other
Capital outlay
Total parks and recreation
Total expenditures
OTHER FINANCIAL USES
Transfers to otherfunds
Total expenditures and other
financial uses
Excess of revenues and other
financial sources over expend—
itures and other financial uses
OTHER CHANGES IN FUND EOUITY
Increase in reserve for prepaid expenditures
Residual equity transfers out
UNRESERVED FUND BALANCE,
BEGINNING
UNRESERVED FUND BALANCE,
ENDING $ 20,357,968
Variance —
Favorable
Actual Budget (Unfavorable)
$ 260,574 r'` $ 329,925 $ 49,351
67,965 69,000 1,035
20,333 14,500 (5,833)
� 7,2oa 17,000 (2oa)
— 9,500 9,500
386,080 439,925 53,845
1,554,617�''"" 1,046,375 (508,242)
1,198,283 — (1,198,283)
� ss,o�s � as,000 (� � ,o�s�
74,812 74,820 8
— 61,600 61,600
2,986,788 1,330,795 (1,655,993)
1,031,137 V�`� 1,012,728 (18,409)
95, 324 112, 450 17,126
108,057 148,600 40,543
164,089 34,850 (129,239)
— 38,600 38,600
1,398,607 1,347,228 (51,379)
17,030,751 15,157,017 (1,873,734)
7,368,752 6,925,473 (443,279)
24,399,503 22,082,490 (2,317,013)
1,330,553 $ — $ 1,330,553
(20,000)
(1,028,389)
20,075,804
40
d
�
,
'` _
'.
'
'
ST.�TE�•IEtiTS B
SPECIAL RE��E�LE Ft':�DS
Special Revenue Funds are used to account ror revenues derived from specific taxzs or
other earr.iarked re��enue sources. Tne�' are usually required by statute or Federal Rrant
reQulation to record panicular operatina functions of the Town.
Federal Grant Funds - includes the Communitv Development Block Grants the HOME
, Proaram. the COPS Grant, GITEM. HIDTA. M�NTIS, and LLEBG Grant. The se arate
., . . . . P
funds ha��e been established to account ior arant re��enues and to pro��ide compliance «�ith
Federal arant reaulations.
Other Grant Funds - includes CJEF Court Fund, RICO, Auto Theft, LTAF Hiah�•ay
liser Revenue and Fill The Gap - Courts Funds. These funds are non-federal funds
required by Arizona Statutes to be Lsed for police, public works, or maQistrate eourt
expenditures.
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ST.�TE�1E\75 B
SPECIAL REVE\L'E Ft�;�DS
Special Revenue Funds are used to account for revenues derived from specific ta��s or
o.ne: earmari:ed revenu� sources. The� are usually required by statute or Federal �-ant
reoulation to record particular operatinQ functions of t��e Town.
Federa] Grant Funds - includes the Communit�� Deveiopment Block Grants the HG��E
ProQram, the COPS Grant GITEM, HIDTA, NIANTIS, and LLEBG Grant. The sep�ratz
�unds have been established to account for �rant revenues and to provide complianc� ��
r ederal arant reaulations.
O��er Grant Funds - includes CJEF Court Fund RICO, Auto Theft LTAF, Hi�h�.a�•
L ser Revenue, and Fill The Gap - Courts Funds. These funds are non-federal : anCs
required by ?,rizona Statutes to be used for police, public works, or maaistratz cou.n
expenditw es.
�
TOWN OF MARANA, ARIZONA
1999 COMMUNITY DEVELOPMENT BLOCK GRANT — SPECIAL REVENUE FUND
STATEMENT OF AEVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT B-3
Year Ended June 30, 2002
Variance —
Favorable
Actual Budget (Unfavorable)
REVENUES
Other agencies
Block grants — Pima County
Total revenues
EXPENDITURES
Current operations
Community development
Total expenditures
Excess of revenues over expenditures
FUND BALANCE, BEGiNNING
FUND BALANCE, ENDlNG
$ 10,152 $
10,152
10, 000 $ 152
10, 000 152
10,152 10,000 (152)
10,152 10,000 (152)
$ — $ — $ —
46
TOWN OF MARANA, ARIZONA
2000 COMMUNITY DEVELOPMENT BLOCK GRANT — SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT B-4
Year Ended June 30, 2002
Variance —
Favorable
Actual Budget (Unfavorable)
REVENUES
Other agencies
Block grants — Pima County
Total revenues
EXPENDITURES
Current operations
General government
Community development
Total expenditures
OTHER FINANCIAL USES
Transfers to other fund
Total expenditures and other
financial uses
Excess of revenues over expenditures
and other financial souces
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$ 154,270 $ 180,000 $ (25,730)
154,270 180,000 (25,730)
46,730
22,622
69, 352
180,000
180,000
(46, 730)
157,378
110,648
84, 918 —
(84, 918)
154,270 180,000 25,730
$ — � — $ —
47
TOWN OF MARANA, ARIZONA
HOME PROGRAM — SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES iN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT B-5
Year Ended June 30, 2002
Variance —
Favorabie
Actual Budget (Unfavorablej
REVENUES
Other agencies
Block grants — Pima County
Miscellaneous
Sales proceeds
Total revenues
OTHER FINANCtAL SOURCES
Transfers from other funds
Total revenues and other financial
sources
EXPENDITURES
Current operations
Community development
Total expenditures
Excess of revenues over expenditures
FUND BALANCE, BEGINNtNG
FUND BALANCE, ENDING
$ - $ 300,000 $ �300,000�
54,456 — 54,456
54,456 300,000 (245,544)
215,617 — 215,617
270,073 300,000 (29,927)
242,708 300,000 57,292
242,708 300,000 57,292
27,365 — 27,365
74,312 — 74,312
$ 101,677 $ — $ 101,677
48
TOWN OF MARANA, ARIZONA
COPS GRANT — SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANCES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT B-6
Year Ended June 30, 2002
REVENUES
Other agencies
Public safety — U.S. Dept of Justice
Total revenues
EXPENDITURES
Current operations
Police
Totai expenditures
Excess of revenues
over expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
Variance —
Favorable
Actual Budget (Unfavorable)
� — $ 48,900 $ (48,900)
— 48,900 (48,900)
— 48,900 48,900
— 48,900 48,900
$ — $ — $ —
49
TOWN OF MARANA, ARIZONA
RICO — SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT B-7
Year Ended June 30, 2002
Variance —
Favorabie
Actual Budget (Unfavorable)
REVENUES
Other agencies
RICO funds — Pima County
Interest
Total revenues
EXPENDITURES
Current operations
Police
Total expenditures
Excess of expenditures over revenues
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$ 1,325 $ 25,000 $ (23,675)
647 — 647
1,972 25,000 (23,028)
6,000 25,000 19,000
6,000 25,000 19,000
(4,028) — (4,028)
24,940 — 24,940
$ 20,912 $ — $ 20,912
50
TOWN OF MARANA, ARIZONA
GITEM — SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT B-8
Year Ended June 30, 2002
Variance —
Favorable
Actual Budget (Unfavorable)
REVENUES
Other agencies
Public safety — Arizona
Total revenues
EXPENDITURES
Current operations
Police
Total expenditures
Excess of revenues
o.ver expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$ 164,912 $ 160,000 $ 4,912
164, 912 160, 000 4, g � 2
164,912 160,000 (4,912)
164,912 160,000 _ (4,912)
$ — $ — $ —
'
'
'
,
'
1
'
51
TOWN OF MARANA, ARIZONA
HIDTA — SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT B-9
Year Ended June 30, 2002
Variance —
Favorable
Actual Budget (Unfavorable)
REVENUES
Other agencies
Public safety — Tucson
Total revenues
EXPENDITURES
Current operations
Police
Total expenditures
Excess of revenues
over expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$ 56,861 $ 54,000 $ 2,861
56, 861 54, 000 2, 861 _
56, 861 54, 000 (2, 861)
ss,ss� �4,00o t2,ss��
$ — $ — $ —
52
TOWN OF MARANA, ARIZONA
MANTIS — SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT B-10
Year Ended June 30, 2002
REVENUES
Other agencies
Public safety — Tucson
Total revenues
EXPENDITURES
Current operations
Police
Total expenditures
Excess of revenues
over expen ditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
Variance —
Favorable
Actual Budget (Unfavorable)
$ 62,862 $ 53,000 $ g,gg2
62,862 53,000 g�862
62,862 53,000 (g�862�
62,862 53,000 (9,862)
$ — $ — $ —
53
TOWN OF MARANA, ARIZONA
AUTO THEFT — SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT B-11
Year Ended June 30, 2002
Variance —
Favorable
Actual Budget _ �Unfavorable)
REVENUES
Other agencies
Pubiic safety — Arizona
Totai revenues
EXPENDITURES
Current operations
Police
Total expenditures
Excess of revenues
over expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$ 48,395 $ 53,000 $ (4,605)
48,395 53,000 (4,605)
48,395 53,000
48,395 53,000
605
605
$ — $ — $ —
54
TOWN OF MARANA, ARIZONA
HIGHWAY USER REVENUE — SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT B-12
Year Ended June 30, 2002
Variance —
Favorable
Actual Budget (Unfavorable)
REVENUES
Other agencies
Highway user fees — Arizona
Total revenues
OTHER FlNANCIAL SOURCES
Transfers from other fund
Total revenues and other
financial sources
EXPENDITURES
Current operations
Public works
Total expenditures
OTHER FINANCIAL USES
Transfers to other fund
Total expenditures and other
financial uses
Excess of revenues and other
financial sources over expenditures
and other financial uses
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$ 1,023,489 $ 1,072,800 $ (49,311)
1,023,489 1,072,800 (49,311)
— 1,235,268 (1,235,268)
1,023,489 2,308,068 (1,284,57g)
— 2,308,068 2,308,068
— 2,308,068 2,308,068
1,023,489 — (1,023,489)
1,023,489 2,308,068 1,284,579
$ — $ — $ —
55
TOWN OF MARANA, ARIZONA
LTAF — SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT B-13
Year Ended June 30, 2002
Variance —
Favorable
Actual Budget (Unfavorable)
REVENUES
Other agencies
LTAF funds — Arizona
LTAF — Pima Assoc.
of Governments
Total revenues
EXPENDITURES
Current operations
Public works
Total expenditures
OTHER FINANCIAL SOURCES
Transfers to other fund
Total expenditures and other
financial uses
Excess of revenues over expenditures
and other financial souces
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$ 76,949 $ 127,385 $ (50,436)
17,227 — 17,227
94,176 127,385 (33,209)
94,176
127,385 127,385
127,385 127,385
(94,176)
94,176 127,385 33,209
$ — � — $ —
56
TOWN OF MARANA, ARIZONA
LLEBG — SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT B-14
Year Ended June 30, 2002
REVENUES
Other agencies
Public safety — U.S. Dept of Justice
Total revenues
OTHER FINANCIAL SOURCES
Transfers from other funds
Total revenues and other
flnancial sources
EXPENDITURES
Current operations
Police
Total expenditures
Excess of revenues
and other financial sources
over expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
Variance —
Favorable
Actual _ Budget (Unfavorabie)
$ 20,501 $ 25,000 $ (4,499)
20, 501 25, 000 (4, 499)
10, 879 — 10, 879
31, 380 25, 000 _ 6, 380
31, 380 25, 000 _ (6, 380)
31, 380 25, 000 (6, 380)
$ — $ — $ —
57
sr.��rE��E�TS c
DEBT SER�'ICE FU'�DS
Debt Sen�ice Funds �� created to account for the accumulation of resources for, and tr,�
pa;�ment of, general-lona term debt p:incipal and interest.
�000 G°neral Obligation Debt Service Fund - this fund accounts for the accumulation oi
rzsources �.nd payment of principal and interest on the series 2000 revenue bonds. Th�
Town has pl�daed Town sales tax revenue, state shared revenues, licenses, fees ard
permits re�-enue, anC fines, forfeitures and penalties revenue to make the requireu
p��jments for this series.
l 997 General Obli�ation Debt Service Fund - this fund accounts for the accumulation oi
resources and paymenc of principal and interest on the series 1997 revenue bonds. The
To���n has pledQed To«m sales taa revenue, state shared revenues, licenses, fees and
permits revenue, and iines, forfeitures and penalties revenue to mal:e the required
payments �or this series.
'-:
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i
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TOWN OF MARANA, ARIZONA
COMBINING BALANCE SHEET
DEBT SERVICE FUNDS — EXHIBIT C-1
June 30, 2002
ASSETS
Restricted assets:
Cash/Investments
TOTAL ASSETS
LIABILITIES AND FUND EQUITY
FUND EQUITY
Reserved fund balances
Reserved for debt service
Total fund equity
TOTAL LIABILITIES AND FUND EQUITY
2000 1997
Generai General
Obligation Obligation
Totals
$ 617,251 $ 395,724 $ 1,012,975
$ 617,251 $ 395,724 $ 1,012,975
$ 617,251 $ 395,724 $ 1,012,975
617,251 395,724 1,012,975
$ 617,251 $ 395,724 $ 1,012,975
58
TOWN OF MARANA, ARIZONA
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
DEBT SERVICE FUNDS — EXHIBIT C-2
Year Ended June 30, 2002
REVENUES
Interest
Total revenues
OTHER FINANCIAL SOURCES
Tranfers from other funds
Total other financial sources
Total revenues and other financial
sources
EXPENDITURES
Debt service
Principal retirement
Interest
Fiscal agent fees
Total expenditures
Excess (deficiency) of revenues and other financial
sources over (under) expenditures
FUND BALANCES, BEGINNING
FUND BALANCES, ENDING
2000 1997
General General
Obiigation Obligation
Totals
$ 554 $ 186 $ 740
554 186 740
1,247,838 786,041 2,033,879
1,247,838 786,041 2,033,879
1,248,392 786,227 2,034,619
800,000 450,000 1,250,000
465,700 335,623 801,323
3,500 — 3,500
1,269,200 785,623 2,054,823
(2o,sos� soa �20,204�
638,059 395,120 1,033,179
$ 617,251 _$ 395,724 $ 1,012,975
�9
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�
STATE:�'IE�TS D
�
CAPIT.�.L YROJECTS FL':�DS
Capita� P=ojects Funds are created to account for the purchase or construction o; major
capital faciiities which are not financed b}� th� aeneral, enterprise, or s�ecial revenue
,. iunds.
�t1�0 G�r��al Ohligati n a�ital Pro�ect Fund - tr.is fund accounts for tne proceeds froin
the sale oi the 2000 aeneral obliQation bonds �'hich are used for autnorized capital
irlpro��er. ;.r�ts.
�
�J
'
� 997 Ge�eral ObIigation Canital Project Fund - this fund accounts for the proceeds from
t�e sale oi the 1997 Qeneral obliQation bonds «-ivch are used for autnorized capital
iriproveneats.
9ther Ca�ital Pro�ect Funds - this fund accounts for the purchase or construction of major
capital =acilities ��hich are not funded by Qeneral obliaation bonds. •
�
.�
I TOWN OF MARANA, ARIZONA
2000 GENERAL OBLIGATION — DEBT SERVICE FUND
� STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHBIT C-3
1 Year Ended June 30, 2002
Variance—
, Favorable
Actual Budget (Unfavorable)
� REVENUES
Interest $ 554 $ — $ 554
� Totai revenues 554 — 554
OTHER FINANCIAL SOURCES
Tranfers from otherfunds 1,247,838 1,249,900 (2,062)
' Total otherfinancial sources 1,247,838 1,249,900 (2,062)
' Total revenues and other financial
sources 1,248,392 1,249,900 (1,508)
EXPENDITURES
' Debt service —
Principal retirement 800,000 800,000
Interest 465,700 449,900 (15,800)
, Fiscal agent fees 3,500 — (3,500)
Total expenditures 1,269,200 1,249,900 (19,300)
� Excess (deficiency) of revenues and other financial
sources over (under) expenditures (20,808) — (20,808)
' FUND BALANCES, BEGINNING 638,059 — 638,059
FUND BALANCES, ENDING $ 617,251 $ — � 617,251
,
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,�
�
�
� = so
TOWN OF MARANA, ARIZONA
1997 GENERAL OBLIGATION — DEBT SERVICE FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT C-4
Year Ended June 30, 2002
REVENUES
Interest
Total revenues
OTHER FINANCIAL SOURCES
Tranfers from other funds
Total other financial sources
Total revenues and other financial
sources
EXPENDITURES
Debt service
Principal retirement
interest
Fiscal agent fees
Total expenditures
Excess (deficiency) of revenues and other financial
sources over (under) expenditures
FUND BALANCES, BEGlNNING
FUND BALANCES, ENDING
Variance—
Favorable
Actual Budget (Unfavorable)
$ 186 $ — $ 186
186 — 186
786,041 791,230 (5,189)
786,041 791,230 _ (5,189)
786,227 791,230 (5,003)
450,000 450,000 —
335,623 335,623 —
— 5, 607 5, 607
785,623 791,230 5,607
604 — 604
395,120 — 395,120
$ 395.724 � — � 395,724
-61
TOWN OF MARANA, ARIZONA
COMBINING BALANCE SHEET
CAPITAL PROJECTS FUNDS — EXHIBIT D-1
June 30, 2002
ASSETS
Due from other funds
Receivables:
Other
Restricted assets:
Cash/Pooled Investrnents
Investments
TOTAL ASSETS
LIABtLITIES AND FUND EQUITY
LIABILITIES
Accounts payable
Due to other funds
Deferred revenue
Total liabilities
FUND EQUITY
Unreserved fund balances
Designated for subsequent years' expenditures
Total fund equity
TOTAL LIABILITIES AND FUND EQUITY
Other
2000 1997 Capital
General General Project
Obligation Obligation Funds Totals
$ — $ — $ 2,367,423 $ 2,367,423
— — 254,131 254,131
10,533,977 — — 10,533,977
51,605 531,682 — 583,287
$ 10,585,582 $ 531,682 $ 2,621,554 $13,738,818
$ — $ — $ 2,488,449 $ 2,488,449
3,057,682 79,432 — 3,137,114
— — 133,105 133,105
3,057,682 79,432 2,621,554 5,758,668
7,527,900 452,250 — 7,980,150
7,527,900 452,250 — 7,980,150
$ 10,585,582 $ 531,682 $ 2,621,554 $13,738,818
62
�
TOWN OF MARANA, ARIZONA
COMBINING STATEMENT OF REl/ENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUNDS - EXHIBIT D-2
Year Ended June 30, 2002
REVENUES
Other agencies
Pub(ic works - Pima Assoc. of Governments
Airport - State of Arizona
Interest
Other-User Reimbursement
Total revenues
OTHER FINANCIAL SOURCES
Transfers from other funds
Totai revenues and other financial sources
EXPENDITURES
Capital improvement projects
Hartrnan Lane Improvements
Tangerine Road Project
Handicap Ramp Replacement
Santa Cruz River Study
Fire Protection/Suppression System
Generai Plan Update
Runway 3/21 Extension
Cortaro Road Improvements
Silverbeli Road Improvements
Continental Neighborhood Park
Emigh Road
Ina Rd-Siiverbell/I-10
Ina/Old Father Improvement
Ina/Silverbell Signal
Signai Spot Safety Improvement
Pavement Rehabilitation Program
Roadway Safety Improvement
Roadway Sign Replacement
Traffic Signal Upgrade
Tra�c Signal Wiring
Infrastructure Inventory
Marana Safety Study
Santa Cruz River Trail System
Berry Acres Floodway
Gladden Farms Improv�ment District
Marana Park RenovaUons
Municipal Complex
Other Projects
Total expenditures
OTHER FtNANCIAL USES
Transfers to other funds
Total expenditures and other financial uses
cxcess (deficiency) of revenues and other financial
sources over (under) expenditures and other
financial uses
FUND BALANCES, BEGINNING
Residual equity transfers out
FUND BALANCES, ENDING
Other
2000 1997 Capital
Generai General Project
Obligation Obligation Funds Totals
$ - $ - $ 6,988,648 $ 6,988,648
- - 106,159 106,159
273,172 22,980 - 296,152
- - 345,220 345,220
273,172 22,980 7,440,027 7,736,179
- - 6,419,370 6,419,370
273,172 22,980 13,859,397 14,155,549
' - 126,672 126,672
- - 89,366 89,366
- - 38,954 38,954
- - 161,842 161,842
- - 96,370 96,370
- - 85,005 95,005
- - a2,sss a2,s�s
' - 8,047,743 8,047,743
- - 367,136 367,136
- - 845,150 845,15p
- - 991,260 991,260
- - 101,007 101.007
- - 34,378 34,378
- - 185,509 185,509
- - 86,274 86,274
- - 951,792 951,792
- - 51,840 51,840
' - 72,884 72,884
- - 69,204 69,204
- - 128,267 128.267
- � 36,456 36,456
- - 52,503 52,503
- - 191,412 191,412
- - 97,976 97,976
- - 47,500 47,500
- - 390,154 390,154
240,722 - 220,802 461,524
- - 238,985 238,985
240,722 - 13,859,397 14,100,119
- - 108,410 108,410
240,722 - 13,967,807 14,208,529
32,450 22,980 (108,410) (52,980)
7,495,450 1,245,865 108,410 8,84g,725
- (816,595) - (816,59�)
$ 7,527,900 $ 452,250 $ - � 7,980,150
6�
TOWN OF MARANA, ARIZONA
2000 GENERAL OBLIGATION — CAPITAL PROJECT FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT D-3
Year Ended June 30, 2002
REVENUES
Interest
Total revenues
EXPENDITURES
Capital improvement projects
Municipal Complex
Tota� expenditures
Excess (deficiency) of revenues
over (under) expenditures
FUND BALANCES, BEGINNIN(�
FUND BALANCES, ENDING
Variance—
Favorable
Actual Budget (Unfavorable)
$ 273,172 $ — $ 273,172
273,172 — 273.172
240,722 4,600,000 4,359,278
240,722 4,600,000 4,359,278
32,450 (4,600,000) 4,632,450
7,495,450 4.600,000 2,895,450
$ 7,527,900 $ — $ 7,527,900
64
TOWN OF MARANA, ARIZONA
1997 GENERAL OBLIGATION — CAPITAL PROJECT FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCE — BUDGET AND ACTUAL
EXHIBIT D-4
Year Ended June 30, 2002
REVENUES
Interest
Total revenues
EXPENDITURES
Capitai improvement projects
Fire Protection/Suppression System
Water System Improvements/Acquistion
Total expenditures
Excess (deficiency} of revenues
over (under) expenditures
FUND BALANCES, BE�INNING
Residual equity transfers out
FUND BALANCES, ENDING
Variance—
Favorable
Actual Budget (Unfavorable)
$ 22,980 $ — $ 22,980
22,980 — 22,980
— 151,678 151,678
— 1,200,000 1,200,000
— 1,351,678 1,351,678
22,980 (1,351,678) 1,374,658
1,245,865 1,351,678 (105,813)
(816,59� — (816,595)
5 452,25� $ — $ 452,250
6b _
'
'
�
TOWN OF MARANA, ARIZONA
OTHER CAPITAL PROJECT FUNDS - CAPITAL PROJECT FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL
EXHIBIT D-5
Year Ended June 30, 2002
' REVENUES
Other agencies
Public works - Pima Assoc. of Governments
Airport - State of Arizona
' Other
Other-User Reimbursement
Total revenues
� OTHER FINANCIAL SOURCES
Bond proceeds
Tranfers from other funds
Total other financial sources
Total revenues and other financial
sources
EXPENDITURES
Capitai improvement projects
Hartman Lane Improvements
Tangerine Road Project
Handicap Ramp Replacement
Santa Cruz River Study
Fire Protection/Suppression System
General Plan Update
Runway 3/21 Extension
Cortaro Road Improvements
Silvert>ell Road Improvements
Continental Neighorborhood Park
Emigh Road
Ina Rd-Silverbell/I-10
Ina/Old Father Improvement
Ina/Siiverbell Signal
Signal Spot Safety Improvement
Pavement Rehabi(itation Program
Roadway Safety Improvement
Roadway Sign Replacement
Traffic Signal Upgrade
Traffic Signal Wiring
Infrastructure Inventory
Marana Safety Study
Santa Cruz River Trail System
Berry Acres Floodway
Gladden Farms Improvement District
Marana Park Renovations
Munici�al Compex
Other ?rojects
Other Projects not started
Total expenditures
OTHER FINANCIAL USES
Transfers to other funds
Total expenditures and other financial uses
Variance-
Favorable
Actual Budget �Unfavorable)
$ 6,986,648 $ 8,235,118 $ (1,246,470)
106,159 2,672,347 (2,566,188)
- i ,oso,000 �� ,oso,000�
345,220 - 345,220
7,440,027 11,957,465 (4,517,438)
- 15,000,000
6,419,370 4,755,498
6,419,370 19,755,498
13,859,397
31,712,963
126,672
89,366
38,954
161,842
96,370
95,005
42,956
8,047,743
367,136
845,150
991,260
101,007
34,378
185,509
86.274
951,792
51,840
72,884
69,204
128,267
36,456
52,503
191,412
97.976
47,500
390,154
220,802
238.985
13,859,397
108,410
13,967,807
500,000
506,600
40,000
30,000
1,365,097
100,000
900,000
6,065,000
595,000
2,200,000
400,000
550, 000
45,000
100,000
150,000
1,000,000
50,000
100,000
95, 000
135,000
50,000
50,000
900,000
100,000
7,450,000
250,000
10,073,250
1,187, 500
34,987,447
1,235,268
36,222,715
(15,000,000)
1,663,872
(13,336,128)
(17,853,566)
373,328
417,234
1,046
(131,842)
1.268,727
4,995
857,044
(1,982,743)
227.864
1,354.850
(591.260)
448,993
10,622
(65,509)
63,726
48,208
(1,840)
27,116
25,796
6,733
13,544
(2, 503)
708,588
2,024
7,402,500
(140.154)
(220.802)
9,834,265
1,187,500
21,128,050
1,126,858
22.2�4,908
Excess (deficiency) of revenues and other financial
sources over (under) expenditures and
other financial uses (108,410) (4,509,752) 4,401,342
FUND BALANCES, BEGfNNING 108,410 4,509,752 (4,401,342)
FUND BALANCES, ENDING $ _ g _ $ _
66 _
ST.-�TE�'IE�TS E
E\TERPRISE Fli\DS
Enterprise Funds are �stablished to accoLnt for operations that are fii�anced and o�e;ated
in a manner simil� to a pr;��ate bLSiness enterprises and where periodic detern7ination or"
net income is desired. Expenses, inclueing depreciation, of providing aoods or se;��ices
to the Qeneral public are recovered primzrily throuah user char�es.
Water Ft nd - established to account ior tne financina and operation of th� Water litilitti�.
All actiti-ities necessa�-y to pro�-ide �•a�er services to Town residents are accounted ior
�-ithin this 2und.
.Airnort authorin� - estaolished to account for the financinQ and operation of the ?�1ar2na
Air�ort. `�
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,
,
TOWN OF MARANA, ARIZONA
COMBINING BALANCE SHEET
ENTERPRISE FUNDS - EXHIBIT E-1
June 30, 2002
ASSETS
CURRENT ASSETS
Receivables:
Other
Accounts
Due from other governments - State of Az
Due from other governments - Federai
Total
Due from other funds
Total current assets
� PROPERTY, PLANT, AND EQUIPMENT
Land
Water rights
Improvements, including wells and tanks
, Machinery, equipment, and other assets
Construction in progress
Organization costs
Total
Less accumulated depreciation and
amortization
Total property, plant, and equipment
TOTALASSETS
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities:
Accounts payable
Deposits
Accrued payroll
Other
Total
Due to other funds
Current portion of note payable
Total current liabilities
LONG-TERM LIABILITIES
Note payable, less current maturities above
Total long-term liabilities
Total liabilities
FUND EQUITY
Contributed capital
Equity (deficit)
Total fund equity
TOTAL LIABILITIES AND FUND EQUITY
Water Airport
Fund Authority Totals
$ 78,691 $ 17,488 $ 96,179
- 492,168 492,168
- 122,566 122,566
78,691 632,222 710,913
1,116,710 - 1,116,710
1,195,401 632,222 1,827,623
68
14,720 207,090 221,810
433,696 - 433,696
4,214,281 - 4,214,281
123,025 17, 078 140,103
803,652 1,295,966 2,099,618
39,388 15,349 54,737
5,628,762 1,535,483 7,164,245
832,264 17,$35 850,099
4,796,498 1,517,648 6,314,146
$ 5,991,899 $ 2,149,870 $ 8,141,769
� 768,304 $ 414,990 a 1,183,294
86,623 - 86,623
8,247 - 8,247
9,842 - 9,842
873,016 414,990 1,288,006
- 285,688 285,688
8, 800 - 8, 800
881,816 700,678 1,582,494
44, 000 - 44, 000
44,000 - 44,000
925,816 700,678 1,626,494
6,301,490 573,683 6,875,173
(1,235,407) 875,509 (359,898)
5,066,083 1,449,192 6,515,275
$ 5,991,899 $ 2,149,870 � 8,141,769
TOWN OF MARANA, ARIZONA
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN
FUND EQUITY — ENTERPRtSE FUNDS — EXHIBIT E-2
Year Ended June 30, 2002
Water
Fund
OPERATING REVENUES
Current use charges
Other
Total operating revenues
OPERATING EXPENSES
Material, supplies, and other expenses:
Personal services
Contractual services
Commodities
Other
Depreciation expense
Total operating
expenses
Loss from operations
NONOPERATING REVENUES
Other agencies
Airport — State of Arizona
Airport — Federal Aviation Administration
Total nonoperating revenues
NET INCOME (LOSS)
DEFICIT, BEGINNING
EQUITY (DEFICIT), ENDING
CONTRIBUTED CAPITAL, BEGINNING
Residuaf equity transfers in
CONTRIBUTED CAP(TAL, ENDING
FUND EQUITY, ENDING
$ 791,283
97, 228
888,511
262,013
296,496
223,599
65, 886
205,810
Airport
Authority Totals
$ 86,284 $ 877,567
200 97,428
86,484 974,995
57,537 319,550
59,578 356,074
9,152 232, 751
38,436 104,322
6,485 212,295
1,053,804 971,188 1,224,992
(165,293} (84,704) (249,997)
— 741,353 741,353
— 388,948 388,948
— 1,130,301 1,130,301
(165,293) 1,045,597 880,304
(1,070,114) (170,088) (1,240,202)
(1,235,407) 875,509 (359,898)
4, 622,170
1,679,320
6,301,490
$ 5,066,083
408,019 5,030,189
165, 664 1, 844, 984
573,683 6,875,173
$ 1,449,192 $ 6,515,275
.�
TOWN OF MARANA, ARIZONA
COMBINING STATEMENT OF CASH FLOWS
ENTERPRISE FUNDS — EXHIBIT E-3
Year Ended June 30, 2002
Water
Fund
CASH FLOWS FROM OPERATING ACTIVITIES
Loss from operations
Adjustments to reconcile loss from operations to net
cash provided (used) by operating activities:
Depreciation
Changes in operating assets and liabilities:
Increase in accounts receivable
Increase (decrease) in accounts payable
and accrued expenses
Net cash provided (used) by operating activities
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITlES
Increase (decrease) in due from other funds
Increase in due to other funds
Net cash provided (used) by
noncapital financing activities
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Increase in accounts receivable
Increase in due from other funds
Increase in accounts payable
and accrued expenses
Increase in due to other funds
Recognition of nonaperating revenues
Residual equity transfers from capital project funds
Residual equity transfers from general fund
Principal paid on note payable
Purchase of fixed assets
Net cash provided by capital and
related financing activities
NET WCREASE IN CASH
CASH, BEGINNING OF YEAR
CASH, END OF YEAR
Airport
Authority Totals
$ (165,293) $ (84,704) $ (249,997)
205,810 6,485 212,295
(17,673) (1,384) (19,057)
16,662 (10,279) 6,383
39,506 (89,882) (50,376)
(223,943) 9,518
— 80, 364
(223,943) 89,882
(214,425)
80,364
34.061
— (614,734) (614,734)
(724,463) — (724,463)
724,463 409,411 1,133,874
— 205,324 205,324
— 1,130,301 1,130,301
816, 594 — 816, 594
862,726 165,664 1,028,390
(8,800) — (8,800)
(1,486,083) (1,295,966) (2,782,049)
184.437
184,437
$ — $ — $ —
70
TOWN OF MARANA, ARIZONA
COMPARATIVE BALANCE SHEETS
WATER FUND — EXHIBIT E-4
June 30, 2002 and 2001
ASSETS
CURRENT ASSETS
Receivables:
Other
Due from other funds
Total current assets
PROPERTY, PLANT, AND EQUIPMENT
Land
Water rights
Improvements, including welis and tanks
Machinery, equipment, and other assets
Construction in progress
Organization costs
Total
Less accumulated depreciation and
amortization
Total property, plant, and equipment
TOTAL ASSETS
LIABILITIES AND FUND EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities:
Accounts payable
Deposits
Accrued payroll
Other
Total
Current portion of note payable
Total current liabilities
LONG—TERM LIABILITIES
Note payable, less current maturities above
Total long—term liabilities
Total liabilities
FUND EQUITY
Contributed capital
Deficit
Total fund equity
TOTAL LIABILITIES AND FUND EQUITY
2002
$ 78, 691
1,116,710
1,195, 401
14,720
433,696
4,214,281
123,025
803,652
39, 388
5,628,762
832,264
4, 796,498
$ 5,991,899
$ 768,304
86, 623
8,247
9, 842
873, 016
8, 800
881, 816
44, 000
44, 000
925,816
6,301,490
(1,235,407)
5,066,083
$ 5,991,899
2001
$ 61,018
168.304
229,322
14, 720
433, 696
3,574,173
80,702
39, 388
4,142,679
626,454
3,516,225
$ 3,745,547
$ 55,383
61,662
7, 516
7, 330
131, 891
8, 800
140, 691
52, 800
52,800
193,491
4, 622,170
(1, 070,114)
3,552,056
$ 3,745,547
71
TOWN OF MARANA, ARIZONA
COMPARATIVE BALANCE SHEETS
AIRPORT AUTHORITY — EXHIBIT E-5
June 30, 2002 and 2001
2002
ASSETS
CURRENT ASSETS
Receivables:
Other
Accounts
Due from other governments — State of Az
Due from other governments — Federal
Total
Due from other funds
Total current assets
PROPERTY, PLANT, AND EQUIPMENT
Land
Machinery, equipment, and other assets
Construction in progress
Organization costs
Total
Less accumulated depreciation and
amortization
Total property, plant, and equipment
TOTAL ASSETS
LIABtLIT1ES AND FUND EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities:
Accounts payable
Accrued payroll
Total
Due to other funds
Total current liabilities
FUND EQUITY
Contributed capital
Equity (deficit)
Total fund equity
TOTAL LIABILlTIES AND FUND EQUITY
$ 17,488
492,168
122,566
632,222
632,222
207, 090
17, 078
1,295,966
15, 349
1,535,483
17, 835
1,517,648
$ 2,149,870
$ 414,990
414,990
285,688
700,678
573,683
875, 509
1,449,192
$ 2,149,870
2001
$ 16,104
16,104
9,518
25, 622
$
207,090
17, 078
15,349
239, 517
11,350
228,167
253.789
13,818
2,040
15,858
15,858
408,019
(170, 088)
237, 931
$ 253,789
72
TOWN OF MARANA, ARIZONA
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN
FUND EQUITY — BUDGET AND ACTUAL
WATER FUND — EXHIBIT E-6
Year Ended June 30, 2002
OPERATING REVENUES
Current use charges
Other
Total operating revenues
OPERATING EXPENSES
Material, supplies, and other expenses:
Personal services
Contractual services
Commodities
Other
Depreciation expense
Total operating expenses
LOSS FROM OPERATIONS
DEFICIT, BEGINNING
DEFICIT, ENDING
CONTRIBUTED CAPITAL, BEGINNING
Residual equity transfers in
CONTRIBUTED CAPITAL, ENDING
FUND EQUITY, ENDING
Variance —
Favorable
Actual Budget (Unfavorable)
$ 791,283 $ 655,000 $ 136,283
97,228 — 97,228
888,511 655,000 233,511
262,013 261,776 (237)
296,496 323,825 27,329
223,599 13,000 (210,599)
65,886 73,489 7,603
• 205,810 — (205,810)
1, 053, 804 672, 090 (381, 714)
(165,293) (17,090) (148,203)
(1,070,114) — (1,070,114)
(1,235,407) (17,090) (1,218,317)
4,622,170 — 4,622,170
1,679,320 17,090 1,662,230
6,301,490 17,090 6,284,400
$ 5,066,083 $ — $ 5,066,083
73
TOWN OF MARANA, ARIZONA
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN
FUND EQUITY - BUDGET AND ACTUAL
AIRPORT AUTHORITY - EXHIBIT E-7
Year Ended June 30, 2002
OPERATING REVENUES
Current use charges
Other
Total operating revenues
Variance -
Favorable
Actual Budget (Unfavorabie)
$ 86,284 $ 70,000 $ 16,284
200 - 200
86,484 70,000 16,484
OPERATING EXPENSES
Material, supplies, and other expenses:
Personal services 57,537 67,920 10,383
Contractual services 59,578 43,500 (16,078)
Commodities 9,152 3,085 (6,067)
Other 38,436 42,250 3,814
Depreciation expense 6,485 - (6,485)
Total operating expenses 171,188 156,755 (14,433)
Loss from operations (84,704) (86,755) 30,917
NONOPERATING REVENUES (EXPENSES)
Other agencies
Airport - State of Arizona 741,353 - 741,353
Airport - Federa) Aviation Administratian 388,948 - 388,948
Capital outlay - (25,000) 25,000
Total nonoperating
revenues (expenses) 1,130,301 (25,000) 1,155,301
NET INCOME (LOSS) 1,045,597 (111,755) 1,186,218
DEFICIT, BEGINNING
EQUITY (DEFICIT), ENDING
CONTRIBUTED CAPITAL, BEGINNING
Residual equity transfers in
CONTRIBUTED CAPITAL, ENDING
FUND EQUITY, ENDING
(170,088) -
875,509 (111,755)
408, 019
165,664
573,683
� 1,449,192 �
(170,088)
1,016,130
- 408, 019
111,755 53,909
111,755 461,928
- $ 1,478,058
74
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ST.aTE�1E�"rS F
GE�ER�L FI�ED .�SSETS ACCOt��"r GI:Ot�P
The Gene;al Fiaed .�ssets Account Group is comprised o� those 2ixed asse:s ot a
�o��ernmental jurisdiction ��hich are not accounted for in the Enterprise Funds.
Infrastructure assets «'hich include roads, brid�es, streets and street liahtina s��stem: are
not included in these schedules.
�
'
'
TOWN OF MARANA, ARIZONA
COMPARATIVE SCHEDULE OF GENERAL FIXED ASSETS BY SOURCE
EXHIBIT F-1
June 30, 2002 and 2001
2002 2001
GENERAL FIXED ASSETS
Land
Buildings
Assets under capital lease
Machinery, equipment, and other assets
Marana Park
Continental Neighborhood Park
Leasehold improvements
TOTAL GENERAL FIXED ASSETS
$ 2,400,765
2,887,220
536,385
5,413,162
1,394,663
518,892
464,157
$13,615,244
$ 2,279,821
2,609,147
3, 939, 342
1,111,614
464,157
$ 10,404,081
INVESTMENT IN GENERAL FIXED ASSETS BY SOURCE
From Current Revenues $ 8,997,487
From Revenue Bonds 4,079,980
From Federal Grants 537,777
TOTAL INVESTMENT IN GENERAL
FIXED ASSETS $13,615,244
$ 6,037,953
3,839,258
526, 870
$ 10,404,081
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TOWN OF MARANA, ARIZONA
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS — BY FUNCTION AND ACTIVITY
EXHIBIT F-3
Year Ended June 30, 2002
General Fixed Additions Deletions General Fixed
Assets and and Assets
Function and Activity July 1, 2001 Transfers Transfers June 30, 2002
General government $ 894,810 $ — $ (20,688) $ 874,122
Development and planning
services 415,539 — — 415,539
Police 1,661,054 536,385 — 2,197,439
Magistrate court 154,306 — — 154,306
Pubficworks 1,273,058 — — 1,273,058
Community development 914,456 146,604 (104,010) 957,050
Development services
administration 3,799,736 1,850,931 — 5,650,667
Parks and recreation 1,291,122 801,941 — 2,093,063
TOTAL GENERAL FIXED ASSETS $ 10,404,081 $ 3,335,861 $ (124,698) $ 13,615,244
78
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TABLE III
ASSESSED AND ESTIMATED VALUE OF TAXABLE PROPERTY
� LAST TEN FISCAL YEARS
(Unaudited)
'
, Assessed Estimated
Fiscal Property Property
Year Value Value
' 1992-93 $ 20,105,438 $ 156,300,829
1993 —94 21,360,473 160,582,056
1994-95 46,427,724 297,740,632
, 1995-96 49,677,845 325,467,683
1996-97 59,454,386 363,689,243
1997-98 72,242,105 485,315,813
� 1998=99 81,390,365 560,419,914
1999-00 98,250,095 693,931,626
2000 01 310,432,295 2,761,526,707
2001 —02 341,216,183 3,015,170,413
'
'
� Note: Includes reai property only
'' Source: Pima County Assessor's Office of Pima County, Arizona
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Ratio of
Total Assessed
Value to Total
Estimated
Value
13%
13%
16%
15%
16%
15%
15%
14%
11%
11%
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TOWN OF MARANA, ARIZONA
TABLE V
COMPUTATION OF LEGAL DEBT MARGIN
GENERAL OBLIGATION BONDS
June 30, 2002
(Unaudited)
Net Assessed Valuation
Debt Limit
Amount of debt applicable
to debt limit:
General obligation bonds
outstanding
Less assets in debt service
fun�ds available for
payment of principal
Amount of debt applicable
to debt limt
Legal debt margin available
$ 341,216,183
20%
Bonds (i)
$ 68,243,237
6%
Bonds (2)
$ 20,472,971
Total
$ 88,716,208
$ 68,243,237
$ 20,472,971 $ 88,716,208
Notes:
(1) Under Arizona law, Towns can issue general obligation bonds for purposes of
water, sewer, artificial light, and parks up to an amount not exceeding 20%
of assessed valuation.
(2) Under Arizona law, Towns cari issue general obligation bonds for all purposes
other than those listed in Note (1) above, up to an amount not exceeding 6%
of assessed valuation.
Sources: Town of Marana, Arizona and Pima County Assessor's Office
of Pima County, Arizona
84
TOWN OF MARANA, ARIZONA
TABLE VI
COMPUTATION OF DIRECT AND ESTIMATED OVERLAPPING BONDED DEBT
June 30, 2002
(Unaudited)
Jurisdiction
Pima County
Marana School District
Flowing Wells School District
Total estimated overlapping
bonded debt
Net
Bonded Debt
Outstandin
$ 183,070,000
88, 965, 000
15, 625, 000
Estimated
Percentage
Appiicable
to Town
of Marana
7.1176%
27.0100%
7.6923 %
Amount
Applicabie
to Town
of Marana
$ 13,030,134
24,029,447
1,201,923
Town of Marana, Arizona
Total direct and estimated
overlapping bonded debt
287, 660, 000
15,080,000
100.0000%
� 302,740 000
Notes:
(1) The bonded debt of Town of Marana, Arizona includes revenue bonds issued
by the Marana Municipal Property Corporation.
(2) Percentages and applicable amounts are estimated by the Town of Marana,
Arizona based upon assessed property values and square mileage of
intersected territory.
Sources: Town of Marana, Arizona and Pima Coun#y Assessor's Office
of Pima County, Arizana
38,261,504
15,080,000
$ 53,341 504
85 _
TOWN OF MARANA, ARIZONA
TABLE VII
LEASE REWENUE BOND COVERAGE
LAST TEN FISCAL YEARS
(Unaudited)
Fiscal
Year
1992 —93
1993 — 94
1994 — 95
1995 — 96
1996 —97
1997 —98
1998-99
1999-00
2000-01
2001-02
Excise
Revenues Principal
$ 1,148,229 $ —
3,902,424 —
6,447,896 5,000
7,516,097 15,000
9,461,127 15, 000
10,995,247 560,000
14,963,819 245,000
17,267,065 415,000
16,999,093 1,185,000
23,963,296 1,250,000
interest _
$ 49,402 $
47,361
47, 061
45,993
44, 903
479,362
370,250
811,549
801,323
Total
49,402
47,361
52,061
60,993
59,903
560,000
724, 362
785,250
1,996,549
2,051,323
Coverage
23.24
82.40
123.85
123.23
157.94
19.63
20.66
21.99
8.51
11.68
N otes:
(1) Excise revenues include Taxes, Other agencies, Licenses, fees and permits, and Fines,
forfeitures and penalties in General Fund revenues.
(2) Excise revenues of the General Fund are pledged toward payment
of the lease revenue bonds
(3) For fiscal 97-98, 2 bond series were defeased. �545,000 of the $560,000
in principal was defeased. Because of the timing of the defeased debt
and the issuance of the 1997 bond series, there was no interest expense
incurred/recorded forfiscal 97-98.
Source: Town of Marana, Arizona
86
TOWN OF MARANA, ARIZONA
TABLE Vlii
DEMOGRAPHICS
June 30, 2002
(Unaudited)
Population by Age Group
Percentage
Age Group Number of Total
Under 5 1,170 8.63%
5-14 1,985 14.64%
15 —19 740 5.46%
20-29 3,026 22.32%
30 — 39 2, 351 17.34%
40-49 1,650 12.18%
50-64 1,340 9.88%
65 and over 1,294 9.55%
Total 13,556 100.00%
Population by Ethnic Background
Percentage
Age Group Number ofi Total
White 9,718 71.69%
Hispanic 2,663 19.64%
Black 392 2.89%
Native American 286 2.11 %
Other 497 3.67%
Total 13,556 100.00%
Population by Jurisdiction:
Town of Pima State of
Years Marana County Arizona
2000 Census 13,556 843,746 5,130,632
1998 Estimate 9,965 823,900 4,764,025
1995 Special Census 5,309 758,050 4,228,900
1990 Census 2,187 666,880 3,665,305
1980 Census 1,674 531,443 2,718,425
1970 Census 1,154 351,667 1,775,3gg
Note: Population figures are based on 2000 Census of Population and Housing
issued May 2001.
Sources: U.S. Census Bureau
87
TOWN OF MARANA
TABLE IX
PROPERTY VALUE AND CONSTRUCTION
LAST TEN FISCAL YEARS
(Unaudited)
Fiscal
Year
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-01
2001-02
Estimated
Property
Value
156,300,829
160,582,056
297,740,632
325,467,983
363,689,243
485,315,813
560,419,914
693,931,626
2,761,526,707
3,015,170,413
Residential Construction
Number of
Units Value
112 9,417,569
447 40,709,699
320 28,018,383
329 34,083,387
435 68,352,903
713 77,801,401
1,003 108,490,481
786 93,628,161
690 85,603,244
862 117,658,256
Commercial Construction
Number of
Units Value
1 20,000
5 189,244
41 5,742,572
40 1,842,171
36 4,284,366
40 6,675,409
37 15,730,402
22 9,471,305
32 7,548,471
36 17,535,405
Source: Town of Marana, Pima County
::
TOWN OF MARANA
TABLE X
TOP TEN TAXPAYERS
SELECTED INDUSTRY GROUPS
June 30, 2002
(Unaudited)
Retail
Costco
Home Depot
K-Mart
Target
Driver's Mart
Sam Levitz Furniture
Fry's Food and Drug
Petsmart
Tucson Cycle and Ski
Big Lots
Restaurant & Bars
Cracker Barrel
McDonald's
Wendy's
Taco Bell
IHOP
til Abner's
Hooter's
EI Molinito
Domino's Pizza
Jack in the Box
Construction
Del Webb Homes
Pulte Homes
U S Homes
Richmond American Homes
D R Horton Homes
Scott Homes Multifamily
Borderland Construction
Hunter Construction
T.L. Roof & Associates
R.A.S. Builders
Source: Town of Marana
Note: Since the Town does not levy property taxes, the top ten sales taxpayers are based on Town sales
tax collections.
:�
TOWN OF MARANA
TABLE XI
MISCELLANEOUS STATISTICAL DATA
June 30, 2002
(Unaudited)
Date of incorporation: March 21, 1977
Form of Government: 7 member Council/Manager
Town Employees
Full-Time � 97
Part-Time 64
Total 261
Police Protection
Number of Stations
Total Full-Time Employees
Commissioned Employees
Parks and Recreation
Acres
Parks
Playgrounds
Swimming Pools
Water Utility
Operable Wells
Active Services:
Metered
Unmetered
Water Disfributed (Gallons)
2
74
57
40
1
1
1
16
1,308
57
244,327,394
Source: Town of Marana
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